Transaction|August 25, 2020

First Capital REIT completes C$200 million offering of senior unsecured debentures

Torys acted as counsel to First Capital with a team that included Michael Zackheim, Michael Jason and Taylor Overing (corporate/securities) and Corrado Cardarelli (tax).

On September 1, 2020, First Capital Real Estate Investment Trust ("First Capital") completed its previously announced offering, on a private placement basis in certain provinces of Canada, of C$200 million aggregate principal amount of Series A senior unsecured debentures.

The debentures were offered on an agency basis by a syndicate of agents co-led by TD Securities, RBC Capital Markets and BMO Capital Markets. The debentures were issued at par, bear interest at a rate of 3.447% per annum and will mature on March 1, 2028.

The net proceeds of the offering will be used to repay existing debt.

First Capital is a leading developer, owner and manager of mixed-use real estate located in Canada's most densely populated cities.

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