First Capital Realty announces an additional C$75 Million offering of 4.79% Series R senior unsecured debentures

On January 31, 2014, First Capital Realty Inc. (First Capital) announced that it agreed to issue C$75 million aggregate principal amount of Series R senior unsecured debentures (C$50 million of which are being distributed on an agency basis), which is a reopening of this series of debentures, the original issuance of which was completed on January 20, 2014.

These debentures will bear interest at a rate of 4.79% per annum and will mature on August 30, 2024. The additional debentures will be issued at a price of C$102.089 per C$100 principal amount plus accrued interest, with an effective yield of 4.537% if held to maturity. An aggregate of C$225 million of such debentures will be outstanding after giving effect to the offering. The offering is being completed by a syndicate co-led by RBC Capital Markets and TD Securities.

Subject to customary closing conditions, the offering will close on February 18, 2014.

The net proceeds of the offering will be used to repay secured debt maturing throughout 2014.

First Capital Realty is an owner, developer and manager of urban retail-centered properties.

Further information can be found on Marketwired's website.