Mon Sep 23 22:23:51 UTC 2024: ## RioCan Real Estate Investment Trust Announces $700 Million Debenture Offering
**TORONTO, ON – September 23, 2024** – RioCan Real Estate Investment Trust (TSX: REI.UN) today announced the issuance of $700 million in senior unsecured debentures, split into two series: $500 million Series AL debentures with a 4.623% interest rate maturing in 2031, and $200 million Series AM debentures with a 4.004% interest rate maturing in 2028.
The net proceeds from this offering will be used to repay existing debt, including the redemption of all $300 million Series AI debentures at par. Any remaining proceeds will be used for general business purposes.
A syndicate of agents led by TD Securities, CIBC Capital Markets, RBC Capital Markets, Scotia Capital, BMO Capital Markets, and Desjardins Securities will handle the offering, which is expected to close on October 3, 2024, subject to customary closing conditions.
The Debentures must receive a rating of at least BBB with a stable trend from Morningstar DBRS before closing.
This private placement offering is being made in all Canadian provinces, and the Debentures will rank equally with other senior unsecured indebtedness of the Trust.
RioCan is one of Canada’s largest real estate investment trusts, owning, managing, and developing retail-focused, mixed-use properties in prime, high-density, transit-oriented areas across Canada.
**Disclaimer:** This article summarizes a press release and does not constitute financial advice. Investors should consult with qualified professionals before making any investment decisions.
First Piper 