NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
TORONTO, Jan. 31, 2018 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) announced today that it has completed its issuance of $300 million principal amount of Series AA senior unsecured debentures (the “Debentures”). The agency syndicate was co-led by RBC Capital Markets, TD Securities and BMO Capital Markets. The Debentures carry a coupon rate of 3.209% and will mature on September 29, 2023. The Debentures were sold at a price of $999.95 per $1,000 principal amount with an effective yield of 3.209% if held to maturity.
The offering was made under RioCan's base shelf short form prospectus dated August 10, 2016. The terms of the offering are described in a prospectus supplement dated January 29, 2018 that was filed with Canadian securities regulators.
About RioCan:
RioCan is Canada’s largest real estate investment trust with a total enterprise value of approximately $13.9 billion at September 30, 2017. 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. Our portfolio is comprised of 294 properties, including 16 development properties, with an aggregate net leasable area of approximately 45 million square feet. To learn more about how we deliver real vision on solid ground, visit www.riocan.com.
INFORMATION CONTACT:
RioCan Real Estate Investment Trust
Qi Tang
Senior Vice President and Chief Financial Officer
416-866-3033
www.riocan.com