First Capital REIT closes C$250 million offering of Series F senior unsecured debentures

Torys acted as counsel to First Capital with a team that included Michael Zackheim and Nicole Beausoleil (corporate/securities).

On November 14, 2025, First Capital Real Estate Investment Trust ("First Capital") announced that it closed its previously announced offering of C$250 million aggregate principal amount of Series F senior unsecured debentures, on a private placement basis.

The debentures were offered on an agency basis by a syndicate of agents co‐led by TD Securities, Desjardins Capital Markets and RBC Capital Markets. The debentures were issued at a price of C$99.982 per C$100.00 principal amount of debentures, bear interest at a rate of 4.461% per annum and mature on February 15, 2034.

Net proceeds of the offering will be used by First Capital to repay existing debt and for general business purposes.

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.