RioCan REIT Completes $300 Million Debenture Offering
|Areas||Corporate Finance and Securities, REITs and Income Securities, Tax|
Goodmans represented RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) in its public offering of $300 million principal amount of Series Y senior unsecured debentures on January 16, 2017. The agency syndicate was co-led by RBC Capital Markets, TD Securities and BMO Capital Markets and included CIBC World Markets Inc., Scotia Capital Inc. and National Bank Financial Inc. The debentures carry a coupon rate of 2.83% and will mature on October 3, 2022. The debentures were sold at a price of $99.997 per $100 principal amount with an effective yield of 2.831% if held to maturity. The offering was made under RioCan's base shelf short form prospectus dated August 10, 2016.