RioCan Real Estate Investment Trust Announces?Green Bond Offering Issuance of $450 Million 7-year, Series AE Senior Unsecured Debentures at an Annual Coupon Rate of 2.829%
October 26, 2021 at 05:30 pm
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RioCan Real Estate Investment Trust announced that it has agreed to issue $450 million principal amount of Series AE senior unsecured debentures. This issuance is company?s third Green Bond offering. The Debentures are being offered on an agency basis by a syndicate of agents co-led by TD Securities, RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets and Scotia Capital Inc. The Debentures will be sold at par, carry a coupon rate of 2.829% per annum and mature on November 8, 2028. Subject to customary closing conditions, the offering is expected to close on November 8, 2021. The company intends to use an amount equal to the net proceeds of this offering to finance, in whole or in part, expenditures associated with Eligible Green Projects as described in company?s Green Bond Framework. Prior to allocation of the net proceeds of this offering to Eligible Green Projects, the net proceeds may be initially utilized, in part or in full, for repayments of certain of company?s credit facilities, and ultimately will be allocated to Eligible Green Projects in accordance with company?s Green Bond Framework. The offering is being made on a private placement basis in each of the provinces of Canada, and the Debentures will be issued pursuant to company?s trust indenture dated March 8, 2005, as supplemented. The Debentures will rank equally with all other senior unsecured indebtedness of the Trust.
RioCan Real Estate Investment Trust is a Canada-based real estate investment trust. The Company owns, manages, and develops retail-focused mixed-use properties. Its portfolio includes leasing, development, and residential. The Companyâs properties are held by various tenants, such as grocery, pharmacy, liquor, personal services, and specialty and value retailers. The Companyâs portfolio is comprised of approximately 192 properties with an aggregate net leasable area of approximately 33.6 million square feet, including office, residential rental and 10 development properties. Its properties include 1293 Bloor Street West, 145 Woodbridge Avenue, 1556 Bank Street, 1650 - 1660 Carling Avenue, 1860 Bayview, 1910 Bank St, 1946 Robertson Road, 2323 Yonge Street, 2329 Yonge Street, 2335 Boul Lapiniere, 2345 Yonge Street, 2422 Fairview Street, 2453 Yonge Street, 279 Rue St. Charles, 2950 Carling Avenue, and 2955 Bloor Street West.
RioCan Real Estate Investment Trust Announces?Green Bond Offering Issuance of $450 Million 7-year, Series AE Senior Unsecured Debentures at an Annual Coupon Rate of 2.829%