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TORONTO, June 26, 2023 (GLOBE NEWSWIRE) — RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced that it has closed its previously announced offering of the $300 million principal amount of Series AH senior unsecured debentures (the “Debentures”).
The Debentures carry a coupon of 5.962% per annum and mature on October 1, 2029. Inclusive of the benefit of bond forward hedges, the Trust’s all-in rate is 5.284% per annum. The net proceeds of this offering will be used by the Trust to repay the amounts owing under certain credit facilities incurred in the ordinary course. The balance of net proceeds, if any, will be used for general business purposes.
The Debentures were sold on a private placement basis in certain provinces of Canada. The offering was made 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.
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Source: finance.yahoo.com
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