RioCan REIT announces offering of C$200 million senior unsecured debentures

Torys is acting as counsel to a syndicate of agents co-led by RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets, Desjardins Capital Markets, Scotia Capital and TD Securities with a team that includes Michael Zackheim, Shaoor Ahmad and Arron Chahal (corporate/securities).

On September 18, 2025, RioCan Real Estate Investment Trust (“RioCan”) announced that it agreed to issue C$200 million principal amount of Series AP senior unsecured debentures. The debentures carry a coupon of 4.417% per annum and will mature on October 1, 2032.

The debentures are being offered on an agency basis by a syndicate of agents co-led by RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets, Desjardins Capital Markets, Scotia Capital and TD Securities.

The offering is expected to close on October 1, 2025, subject to customary closing conditions.

Net proceeds of the offering will be used by RioCan to repay existing indebtedness at or prior to maturity. The balance of the net proceeds, if any, will be used for general business purposes.

Further information can be found on Business Wire’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.