TORONTO, Dec. 2, 2020 /CNW/ – H&R Real Estate Investment Trust (“H&R REIT” or “H&R”) (TSX: HR.UN) announced today that it completed its previously announced offering of $250 million principal amount of 2.906% Series R senior unsecured debentures due June 2, 2026 (the “Series R Debentures”). H&R REIT had previously agreed with a syndicate of agents co-led and bookrun by Scotia Capital Inc. and CIBC World Markets Inc., and including BMO Capital Markets, TD Securities Inc. and National Bank Financial Inc. to sell the Series R Debentures on a private placement “best efforts” agency basis. The Series R Debentures have been issued for $100.00 per $100.00 principal amount, carry a coupon rate of 2.906% and will mature on June 2, 2026. The net proceeds of the offering will be used for the repayment of outstanding indebtedness and for general trust purposes.
About H&R REIT
H&R REIT is one of Canada’s largest real estate investment trusts with total assets of approximately $13.3 billion at September 30, 2020. H&R REIT has ownership interests in a North American portfolio of high quality office, retail, industrial and residential properties comprising over 40 million square feet.
Certain statements in this news release contain forward-looking information within the meaning of applicable securities laws (also known as forward-looking statements). These forward-looking statements include, but are not limited to, H&R’s plans, objectives, expectations and intentions, including the date of closing of the offering and the intended use of proceeds. Such forward-looking statements reflect H&R’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’s estimates and assumptions that are subject to risks and uncertainties, including those discussed in H&R’s materials filed with the Canadian securities regulatory authorities from time to time, which could cause the actual results and performance of H&R to differ materially from the forward-looking statements contained in this news release. Although the forward-looking statements contained in this news release are based upon what H&R believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these 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, 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
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