RioCan REIT completes C$500 million offering of Series AB senior unsecured debentures
On August 12, 2019, RioCan Real Estate Investment Trust ("RioCan") announced the closing of its previously announced offering, on a private placement basis in certain provinces of Canada, of C$500 million principal amount of Series AB senior unsecured debentures. The debentures were sold at par, carry a coupon rate of 2.576% per annum and will mature on February 12, 2025.
The debentures were offered on an agency basis by a syndicate of agents co-led by TD Securities, RBC Capital Markets, BMO Capital Markets and CIBC Capital Markets.
The net proceeds will be used to repay certain existing debt of RioCan.
Further information can be found on Globe Newswire's website.
RioCan is Canada's largest real estate investment trust with a total enterprise value of approximately C$14.3 billion as of June 30, 2019. RioCan owns, manages and develops retail-focused, increasingly mixed-use properties located in prime, high-density, transit-oriented areas. Its portfolio is comprised of 230 properties, including 13 development properties, with an aggregate net leasable area of approximately 39.1 million square feet.