RioCan REIT completes offering of C$250 million Series AF senior unsecured debentures
Torys acted as counsel to the syndicate of agents with a team that included Michael Zackheim, Christopher Tworzyanski, Max Ledger (corporate/securities), Nooreen Bhanji (real estate) and Michael Fortier (environmental).
On April 18, 2022, RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) announced the closing of its C$250 million principal amount of Series AF senior unsecured debentures. The debentures were sold at a price of C$99.998 per C$100 principal amount, with a coupon rate of 4.628% per annum and mature on May 1, 2029.
The debentures were offered on an agency basis by a syndicate of agents co-led by TD Securities, BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets and Scotia Capital Inc.
The net proceeds of this offering will be used by the Trust to repay certain debt incurred in the ordinary course including replenishing its corporate line of credit.
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.