RioCan REIT completes C$500 million green bond offering

On December 14, 2020, RioCan Real Estate Investment Trust ("RioCan") announced the closing of its previously announced offering of C$500 million principal amount of Series AD senior unsecured debentures. The debentures were offered on an agency basis by a syndicate of agents co-led by TD Securities, RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets and Scotia Capital Inc.

Sold at par, the debentures carry a coupon rate of 1.974% per annum and mature on June 15, 2026.

This is RioCan’s second green bond offering.

The net proceeds of the offering will be used to finance, in whole or in part, expenditures associated with Eligible Green Projects as described in RioCan’s Green Bond Framework. Prior to allocation of the net proceeds to Eligible Green Projects, the net proceeds may be initially utilized, in part or in full, for repayments of certain of RioCan’s credit facilities, and ultimately will be allocated to Eligible Green Projects in accordance with RioCan’s Green Bond Framework.

Further information can be found on Globe Newswire's website.

RioCan is one of Canada's largest real estate investment trusts. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density transit-oriented areas where Canadians shop, live and work.