First Capital REIT completes C$300 million offering of Series B senior unsecured debentures
On March 1, 2024, First Capital REIT ("First Capital") announced the closing of its previously announced offering of C$300 million aggregate principal amount of Series B senior unsecured debentures on a private placement basis in certain provinces of Canada. The debentures were issued at par, bear interest at a rate of 5.572% per annum and mature on March 1, 2031.
The debentures were offered on an agency basis by a syndicate of agents co‐led by Desjardins Capital Markets, RBC Capital Markets and TD Securities.
The net proceeds of the offering will be used to repay existing debt.
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.