Canadian Real Estate Investment Trust
TSX : REF.UN

Canadian Real Estate Investment Trust

December 12, 2013 09:00 ET

Canadian Real Estate Investment Trust Announces Completion of $100 Million Offering of 4.323% Series B Senior Unsecured Debentures

TORONTO, ONTARIO--(Marketwired - Dec. 12, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Canadian Real Estate Investment Trust (TSX:REF.UN) ("CREIT") announced today that it has completed its previously announced issuance of $100 million aggregate principal amount of Series B senior unsecured debentures. These debentures bear interest at a rate of 4.323% per annum and will mature on January 15, 2021. The debentures were sold at a price of $100.001 per $100 principal amount with an effective yield of 4.322% if held to maturity. The debentures were offered on an agency basis by a syndicate of agents with RBC Capital Markets being the sole bookrunner and lead agent. DBRS Limited has provided CREIT with a rating of "BBB" with a "Stable" trend relating to the debentures.

The net proceeds of the offering are being used for the repayment of indebtedness.

The offering was made pursuant to a prospectus supplement dated December 6, 2013 to CREIT's base shelf prospectus dated June 18, 2013.

The debentures offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.

CREIT is a real estate investment trust focused on accumulating and aggressively managing a portfolio of high-quality real estate assets and delivering the benefits of real estate ownership to Unitholders. The primary benefit is a reliable and, over time, increasing monthly cash distribution. CREIT owns a diversified portfolio of retail, office and industrial properties.

Please visit our website at www.creit.ca

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