RioCan REIT completes offering of C$300 million Series AH senior unsecured debentures
Torys acted as counsel to the syndicate of agents co-led by TD Securities, BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets and Scotia Capital with a team that included Michael Zackheim and Christopher Tworzyanski (corporate/securities), Nooreen Bhanji (real estate) and Michael Fortier (environmental).
On June 26, 2023, RioCan Real Estate Investment Trust (“RioCan”) announced the closing of its previously announced offering of C$300 million principal amount of Series AH senior unsecured debentures. The debentures were sold at a price of C$99.966 per C$100 principal amount, carry a coupon of 5.962% per annum and mature on October 1, 2029.
The debentures were offered on an agency basis by a syndicate of agents co-led by TD Securities, BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets and Scotia Capital Inc.
The net proceeds of the offering will be used by RioCan to repay amounts owing under certain credit facilities incurred in the ordinary course.
Further information can be found on the 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 want to shop, live and work.