First Capital REIT closes C$200 million offering of Series D senior unsecured debentures
Torys acted as counsel to First Capital with a team that included Michael Zackheim and Shaoor Ahmad (corporate/securities).
On October 30, 2024, First Capital Real Estate Investment Trust ("First Capital") announced that it agreed to issue C$200 million aggregate principal amount of Series D senior unsecured debentures, on a private placement basis, at a price of C$99.995 per C$100.00 principal amount of debentures.
The debentures, bear interest at a rate of 4.513% per annum and mature on June 3, 2030, were offered on an agency basis by a syndicate of agents co‐led by Desjardins Capital Markets, RBC Capital Markets and TD Securities.
Closing of the transaction took place on November 1, 2024.
The net proceeds of the offering will be used to repay existing debt and for general business purposes.
Further information can be found on Canada Newswire’s website.
First Capital owns, operates and develops grocery-anchored, open-air centres in neighbourhoods with the strongest demographics in Canada.