January 26, 2012

RioCan REIT Completes $150 Million Debenture Offering

Goodmans represented RioCan Real Estate Investment Trust in connection with the completion of an offering of $150 million principal amount of Series P senior unsecured debentures. The underwriting syndicate for the offering was co-led by RBC Capital Markets, TD Securities Inc. and Scotia Capital and included BMO Nesbitt Burns Inc., CIBC World Markets Inc. and National Bank Financial Inc. The Debentures carry a coupon rate of 3.80% and will mature on March 1, 2017. The offering was made under a prospectus supplement dated January 23, 2012 to RioCan’s amended and restated base shelf short form prospectus dated December 21, 2010.
RioCan is Canada’s largest real estate investment trust with a total capitalization of approximately $12.5 billion as at December 31, 2011. It owns and manages Canada’s largest portfolio of shopping centres with ownership interests in a portfolio of 331 retail properties containing an aggregate of over 79 million square feet, including 45 grocery anchored and new format retail centres containing 12 million square feet in the United States through various joint venture arrangements. RioCan’s portfolio also includes 10 properties under development in Canada.

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