RioCan Real Estate Investment Trust
TSX : REI.UN

RioCan Real Estate Investment Trust

December 01, 2009 08:46 ET

RioCan Real Estate Investment Trust Announces Completion of $100.9 Million Public Offering of Trust Units and Over-Allotment Option

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2009) -

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RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced that it has successfully completed its previously announced issuance of 5,500,000 trust units for $18.35 per unit for gross proceeds of $100,925,000, together with the over-allotment option exercised in full by underwriters for an issuance of an additional 550,000 trust units for $18.35 per unit for additional gross proceeds of $10,092,500. The underwriting syndicate for the offering was co-led by RBC Capital Markets, TD Securities Inc. and BMO Capital Markets. 

The offering was made under RioCan's base shelf prospectus dated June 13, 2008. The terms of the offering are described in a prospectus supplement dated November 25, 2009, which was filed with Canadian securities regulators. 

About RioCan

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $7.8 billion as at September 30, 2009. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 247 retail properties, including 13 under development, containing an aggregate of over 59 million square feet. RioCan has also agreed to acquire an 80% interest in seven grocery anchored shopping centres in the United States and owns a 15% equity interest in Cedar Shopping Centers, Inc., a real estate investment trust focused on supermarket-anchored shopping centres and drug store-anchored convenience centres located predominantly in the Northeastern United States. For further information, please refer to RioCan's website at www.riocan.com.

Contact Information

  • RioCan Real Estate Investment Trust
    Rags Davloor
    Senior Vice President & CFO
    (416) 642-3554
    www.riocan.com