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TORONTO, Jan. 23, 2017 /CNW/ – H&R Real Estate Investment Trust (“H&R REIT”) (TSX: HR.UN; HR.DB.D; and HR.DB.H) announced today that it completed its previously announced offering of $150 million principal amount of floating rate Series M senior unsecured debentures due July 23, 2019 (the “Series M Debentures”). H&R REIT had previously agreed with a syndicate of agents co-led and bookrun by TD Securities, Scotia Capital, BMO Capital Markets and CIBC World Markets to sell the Series M Debentures on a private placement “best efforts” agency basis. The Series M Debentures have been issued at par, bear interest at a rate equal to 3-month CDOR plus 123 basis points payable quarterly in arrears and mature on July 23, 2019. The net proceeds of the offering will be used for the repayment of existing indebtedness and for general trust purposes.
About H&R REIT
H&R REIT is Canada’s largest diversified real estate investment trust with total assets of approximately $14.5 billion at September 30, 2016. H&R REIT is a fully internalized real estate investment trust and has ownership interests in a North American portfolio of high quality office, retail, industrial and residential properties comprising over 46 million square feet.
Forward-looking Statements
Certain information in this news release contains forward-looking information within the meaning of applicable securities laws (also known as forward-looking statements) including, among others, statements relating to the objectives of H&R REIT, strategies to achieve those objectives, H&R REIT’s beliefs, plans, estimates, and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking statements generally can be identified by words such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, “project”, “budget” or “continue” or similar expressions suggesting future outcomes or events. Such forward-looking statements reflect H&R REIT’s current beliefs and are based on information currently available to management. These statements are not guarantees of future performance and are based on H&R REIT’s estimates and assumptions that are subject to risk and uncertainties, including those discussed in H&R REIT’s materials filed with the Canadian securities regulatory authorities from time to time, which could cause the actual results and performance of H&R REIT to differ materially from the forward-looking statement contained in this news release. Although the forward-looking statements contained in this news release are based upon what H&R REIT believes are reasonable assumptions, there can be no assurance that actual results will be consistent with those forward-looking statements. All forward looking statements in this news release are qualified by these cautionary statements. These forward-looking statements are made as of today, and H&R REIT, except as required by applicable law, assumes no obligation to update or revise them to reflect new information or the occurrence of future events or circumstances.
SOURCE H&R Real Estate Investment Trust
