By Wendy Van Sickle
Columbus, Ohio, Sept. 15 – RioCan Real Estate Investment Trust agreed to issue C$300 million of 6.488% series AI debentures due 2026 on an agency basis, according to a press release.
The notes are callable at par after one year.
The syndicate of agents is co-led by RBC Capital Markets, CIBC Capital Markets, TD Securities, BMO Capital Markets, and Scotia Capital Inc.
Proceeds will be used to repay debt at or prior to maturity, with the balance, if any, for general business purposes.
Ratings need to be BBB (stable)/DBRS: BBB (stable) as a condition of issuance.
Toronto-based RioCan REIT is a real estate investment trust that owns and manages a portfolio of shopping centers and mixed-use properties.
Issuer: | RioCan Real Estate Investment Trust
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Amount: | C$300 million
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Issue: | Series AI debentures
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Maturity: | Sept. 29, 2026
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Bookrunners: | RBC Capital Markets, CIBC Capital Markets, TD Securities, BMO Capital Markets and Scotia Capital Inc.
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Coupon: | 6.488%
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Call option: | In whole or in part at par starting Sept. 29, 2024
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Announcement date: | Sept. 15
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Distribution: | Canada
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