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

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

On February 25, 2026, RioCan Real Estate Investment Trust (“RioCan”) announced that it has agreed to issue C$200 million principal amount of Series AQ senior unsecured debentures. The debentures will be sold at a price of C$100 per C$100 principal amount, carry a coupon of 4.308% per annum and will mature on March 11, 2033.

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

The offering is expected to close on March 11, 2026, 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.