RioCan announces completion of an additional C$175 million offering of the Series Q senior unsecured debentures

Torys acted as counsel to the syndicate of underwriters co-led by RBC Capital Markets, TD Securities and BMO Capital Markets with a team that included Patricia Koval, Eric Foster and Miriam Levin (corporate/securities).

On April 2, 2015, RioCan Real Estate Investment Trust (RioCan) completed its issuance of C$175 million principal amount of Series Q senior unsecured debentures, a reopening of the series. The original issuance was completed in June 2012 and the first reopening was completed in July 2012.

The debentures, underwritten by a syndicate co-led by RBC Capital Markets, TD Securities and BMO Capital Markets, carry a coupon rate of 3.85% and will mature on June 28, 2019. The additional debentures were issued at a price to RioCan of C$1,073.12 per C$1,000 principal amount plus accrued interest, with an effective yield of 2.04% per annum if held to maturity. An aggregate of approximately C$350 million of such debentures are now outstanding after giving effect to the offering.

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately C$15.1 billion as at December 31, 2014.

Further information can be found on RioCan's website.