RioCan REIT completes offering of C$200 million senior unsecured debentures
Torys acted as counsel to a syndicate of agents co-led by TD Securities, Desjardins Capital Markets, RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets and Scotia Capital with a team that included Michael Zackheim and Shaoor Ahmad (corporate/securities) and Nina Mansoori (lending).
On March 11, 2026, RioCan Real Estate Investment Trust (“RioCan”) completed its previously announced issuance of C$200 million principal amount of Series AQ senior unsecured debentures. The debentures were sold at a price of C$100 per C$100 principal amount, carry a coupon of 4.308% per annum, are payable semi-annually in arrears, and mature on March 11, 2033.
The debentures were offered on an agency basis by a syndicate of agents co-led by TD Securities, Desjardins Capital Markets, RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets and Scotia Capital.
Net proceeds of the offering will be used by RioCan to repay existing indebtedness at or prior to maturity. The balance of the net proceeds, if any, will be used for general business purposes.
Further information can be found on Business Wire’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.