TORONTO, ONTARIO–(Marketwired – April 10, 2017) –
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) announced today that it has completed its issuance of $300 million principal amount of Series Z senior unsecured debentures (the “Debentures”). The agency syndicate was co-led by RBC Capital Markets, TD Securities and BMO Capital Markets. The Debentures, which were sold at par, carry a coupon rate of 2.194% and will mature on April 9, 2021.
The offering was made under RioCan’s base shelf short form prospectus dated August 10, 2016. The terms of the offering are described in a prospectus supplement dated April 5, 2017 that was filed with Canadian securities regulators.
RioCan is Canada’s largest real estate investment trust with a total enterprise value of approximately $14.6 billion as at December 31, 2016. RioCan owns and manages Canada’s largest portfolio of shopping centres with ownership interests in a portfolio of 300 Canadian retail and mixed use properties, including 15 properties under development, containing an aggregate net leasable area of 47 million square feet. For further information, please refer to RioCan’s website at www.riocan.com.
Senior Vice President, Finance and Acting
Chief Financial Officer