RioCan REIT closes reopening of Series AJ senior unsecured debentures
Torys acted as counsel to the syndicate of agents co-led by TD Securities, BMO Capital Markets, Desjardins Securities, CIBC Capital Markets, RBC Capital Markets and Scotia Capital with a team that included Michael Zackheim, Christopher Tworzyanski and Arron Chahal (corporate/securities), Nooreen Bhanji and Aren Thomasian (real estate).
On March 28, 2024, RioCan Real Estate Investment Trust (“RioCan”) announced the closing of its previously announced issuance of an additional C$150 million principal amount of its 5.470% Series AJ senior unsecured notes, maturing on March 1, 2030.
The offering, a reopening of the C$300 million aggregate principal amount of Series AJ senior unsecured debentures that closed on February 12, 2024, was made on an agency basis by a syndicate of agents again co-led by TD Securities, BMO Capital Markets, Desjardins Securities Inc., CIBC Capital Markets, RBC Capital Markets and Scotia Capital Inc.
Net proceeds of the reopening will be used by RioCan to repay existing indebtedness at or prior to maturity.
Further information can be found on Business Wire’s website.
RioCan is one of Canada’s largest real estate investment trusts. It 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.