RioCan REIT completes C$450 million green bond offering
On November 8, 2021, RioCan Real Estate Investment Trust (“RioCan”) announced the completion of its previously announced issuance of C$450 million principal amount of Series AE senior unsecured debentures, on a private placement basis. The debentures were sold at par, carry a coupon rate of 2.829% per annum and mature on November 8, 2028.
The debentures were offered on an agency basis by a syndicate of agents co-led by TD Securities, RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets and Scotia Capital Inc.
RioCan intends to use the net proceeds of this issuance to finance, in whole or in part, expenditures associated with eligible green projects in accordance with RioCan's current green bond framework.
The issuance is RioCan’s third green bond offering.
Further information can be found on Globe Newswire’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.Their portfolio is comprised of 214 properties with an aggregate net leasable area of approximately 37.2 million square feet (at RioCan's interest), as of June 30, 2021, including office, residential rental and 15 development properties.