RioCan REIT Completes $149.5M Preferred Unit Offering

Goodmans represented RioCan Real Estate Investment Trust (“RioCan”) (TSX:REI.UN) in connection with the completion of its issuance of an aggregate of 5,980,000 Cumulative Rate Reset Preferred Trust Units, Series C (the “Series C Units”) at a price of $25.00 per Series C Unit for aggregate gross proceeds of $149,500,000. The aggregate offering was comprised of the previously announced issuance of 5,200,000 Series C Units at $25.00 per Series C Unit for gross proceeds of $130,000,000, together with the option granted to underwriters, which was exercised in full, for an issuance of an additional 780,000 Series C Units for $25.00 per Series C Unit for additional gross proceeds of $19,500,000. The underwriting syndicate for the offering was co-led by RBC Capital Markets, CIBC World Markets Inc., and TD Securities Inc. and included BMO Nesbitt Burns, Inc., Scotia Capital Inc., Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., Canaccord Genuity Corp. and Raymond James Ltd. The offering was made under RioCan’s amended and restated base shelf short form prospectus dated December 21, 2010, as supplemented by a prospectus supplement dated November 21, 2011.