Opérations et transactions|11 mars 2014
First Capital Realty completes additional C$75 million offering of 4.79% Series R senior unsecured debentures
Torys acted as counsel to First Capital Realty with a team that included Simon Knowling, Michael Zackheim, Mohammed Muraj, Giancarlo Ruscio and Simonne Horwitz (corporate) and Andrew Wong (tax).
On March 11, 2014, First Capital Realty Inc. (First Capital) completed its offering of C$75 million aggregate principal amount of Series R senior unsecured debentures, which was a reopening of this series of debentures, prior issuances of which were completed on January 20, 2014 and February 18, 2014.
The debentures bear interest at a rate of 4.79% per annum and will mature on August 30, 2024. The additional debentures were issued at a price to First Capital of C$104.00 per C$100 principal amount plus accrued interest, with an effective yield, based on the price to First Capital, of 4.31% if held to maturity. An aggregate of C$300 million of such debentures are outstanding after giving effect to the offering. The offering was completed by a syndicate co-led by RBC Capital Markets and TD Securities.
The net proceeds of the offering will be used to repay secured and unsecured debt maturing throughout 2014.
First Capital Realty is an owner, developer and operator of supermarket and drugstore shopping centres located predominantly in growing urban markets.
Further information can be found on First Capital Realty's website.
The debentures bear interest at a rate of 4.79% per annum and will mature on August 30, 2024. The additional debentures were issued at a price to First Capital of C$104.00 per C$100 principal amount plus accrued interest, with an effective yield, based on the price to First Capital, of 4.31% if held to maturity. An aggregate of C$300 million of such debentures are outstanding after giving effect to the offering. The offering was completed by a syndicate co-led by RBC Capital Markets and TD Securities.
The net proceeds of the offering will be used to repay secured and unsecured debt maturing throughout 2014.
First Capital Realty is an owner, developer and operator of supermarket and drugstore shopping centres located predominantly in growing urban markets.
Further information can be found on First Capital Realty's website.