November 04, 2011

RioCan REIT Completes $126.5 Million Offering

Goodmans represented RioCan Real Estate Investment Trust (TSX:REI.UN) in the completion of its issuance of an aggregate of 5,091,625 trust units (the “Units”) at a price of $24.85 per Unit for aggregate gross proceeds of $126,526,881.25. The aggregate offering was comprised of the previously announced issuance of 4,427,500 Units at $24.85 per Unit for gross proceeds of $110,023,375, together with the option granted to underwriters, which was exercised in full, for an issuance of an additional 664,125 Units for $24.85 per Unit for additional gross proceeds of $16,503,506.25.

RioCan is Canada’s largest real estate investment trust. It owns and manages Canada’s largest portfolio of shopping centres holding an interest in a portfolio of 314 retail properties containing an aggregate of over 73 million square feet.

The underwriting syndicate for the offering was co-led by RBC Capital Markets and TD Securities Inc. and included BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., Brookfield Financial Corp., Canaccord Genuity Corp., Citigroup Global Markets Canada Inc., Macquarie Capital Markets Canada Ltd., and Raymond James Ltd.

The offering was made under RioCan’s amended and restated base shelf short form prospectus dated December 21, 2010.

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RioCan REIT Completes $126.5 Million Offering

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