RioCan REIT completes issuance of C$300 million Series AJ senior unsecured debentures
On February 12, 2024, RioCan Real Estate Investment Trust (“RioCan”) announced the closing of its previously announced issuance of C$300 million principal amount of Series AJ senior unsecured debentures. Issued on a private placement basis in each of the provinces of Canada, the debentures were sold at a price of C$99.996 per C$100 principal amount, carry a coupon of 5.470% per annum and mature on March 1, 2030.
The offering was made on an agency basis by a syndicate of agents co-led by TD Securities, BMO Capital Markets, Desjardins Securities Inc., CIBC Capital Markets, RBC Capital Markets and Scotia Capital Inc.
Net proceeds will be used by RioCan to repay existing indebtedness at 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.