RioCan REIT announces public offering of C$150 million of Series U senior unsecured debentures
On January 16, 2014, RioCan Real Estate Investment Trust (RioCan) announced that it reached an agreement to issue to the public on a bought deal basis, subject to regulatory approval, C$150 million principal amount of Series U senior unsecured debentures. The debentures will carry a coupon rate of 3.62% and will mature on June 1, 2020. The underwriting syndicate is being co-led by RBC Capital Markets, TD Securities and BMO Capital Markets.
The net proceeds will be used by RioCan to fund development, for property acquisitions, to repay certain indebtedness and for general trust purposes.
RioCan REIT is Canada's largest real estate investment trust with a total capitalization of approximately C$13.6 billion as at September 30, 2013.
Further information can be found on RioCan's website.