RioCan REIT completes C$230 million public offering of trust units

On October 28, 2019, RioCan Real Estate Investment Trust ("RioCan") completed its public offering, on a bought deal basis, of 8,935,500 trust units (inclusive of 1,165,500 trust units issued pursuant to the exercise in full of the underwriters' over-allotment option) at a price of C$25.75 per unit for gross proceeds of C$230,089,125.

RioCan will use the net proceeds from the offering to repay certain indebtedness incurred in funding recently announced and completed acquisitions. These acquisitions strengthen RioCan's dominant presence in the Yonge and Eglinton and Yonge and Sheppard transit hubs in Toronto and further expand RioCan's dynamic portfolio of urban mixed-use assets, as well as RioCan Living™, RioCan's residential rental portfolio.

RioCan is one of Canada's largest real estate investment trusts and 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.

Further information can be found on Globe Newswire's website.