By Cristal Cody
Tupelo, Miss., April 5 – RioCan Real Estate Investment Trust priced C$300 million of 2.194% four-year senior debentures at par on Wednesday, according to a company news release.
The series Z debentures (/BBB/DBRS: BBB (high)) are due April 9, 2021.
RBC Capital Markets Corp., TD Securities Inc. and BMO Capital Markets Corp. were the lead managers.
Proceeds will be used to fund development, for property acquisitions, to repay debt and for general trust purposes.
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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Maturity: | April 9, 2021
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Securities: | Senior debentures
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Bookrunners: | RBC Capital Markets Corp., TD Securities Inc. and BMO Capital Markets Corp.
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Coupon: | 2.194%
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Price: | Par
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Yield: | 2.194%
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Pricing date: | April 5
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Settlement date: | April 10
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Ratings: | S&P: BBB
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| DBRS: BBB (high)
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Distribution: | Canada
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