RioCan REIT to redeem C$250 million series V debentures

By Wendy Van Sickle

Columbus, Ohio, Oct. 26 – RioCan Real Estate Investment Trust is redeeming its C$250 million 3.746% series V senior debentures due May 30, 2022 on Jan. 15, according to a press release.

The indenture of the debentures requires that they be redeemed at a price equal to the greater of the Canada yield price and par. The calculated Canada yield price is C$1,015.06 per C$1,000 of principal amount of the debentures, and they will be redeemed at this price plus C$18.73 of interest per C$1,000 principal up to but excluding the redemption date.

The aggregate redemption price payable by RioCan is C$253,765,000 plus accrued interest of C$4,682,500.

Toronto-based RioCan REIT is a real estate investment trust that owns and manages a portfolio of shopping centers and mixed-use properties.

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