First Capital Realty completes additional C$50 million public offering of Series I senior unsecured debentures

Torys acted as counsel to First Capital Realty with a team that included Simon Knowling, Carol Inwood, David Forrester, Raymond Archer, Corrado Cardarelli and Andrew Wong.

On June 14, 2010, First Capital Realty Inc. (TSX: FCR) closed its previously announced public offering of an additional C$50 million principal amount of Series I senior unsecured debentures, which was a reopening of this series of debentures, the original issuance of which was completed in April 2010. These debentures bear interest at the rate of 5.7% and mature on November 30, 2017. The additional debentures were sold at C$101.061, with an effective yield of 5.524% if held to maturity. An aggregate of C$125 million of Series I senior unsecured debentures are outstanding after giving effect to this offering.

The offering was underwritten by a syndicate led by RBC Capital Markets and included Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc. and National Bank Financial Inc.

The net proceeds of the offering will be used for general corporate purposes.

First Capital Realty is an owner, developer and operator of supermarket and drug store shopping centres located predominantly in growing urban markets.