RioCan Real Estate Investment Trust
TSX : REI.UN

RioCan Real Estate Investment Trust

August 30, 2007 09:40 ET

RioCan Real Estate Investment Trust Announces $100 Million Series K Senior Unsecured Debenture Issue

TORONTO, ONTARIO--(Marketwire - Aug. 30, 2007) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN)announced today that it has agreed to issue, on a bought deal basis, $100 million principal amount of Series K senior unsecured debentures. These debentures will carry a coupon rate of 5.70% and will mature on September 11, 2012. The offering is being underwritten by Scotia Capital Inc. Closing of this issue is expected on or about September 11, 2007.

This offering is being made under RioCan's shelf prospectus dated May 19, 2006. The terms of the offering will be described in a prospectus supplement to be filed with Canadian securities regulators.

The net proceeds from the offering will be used by RioCan for general trust purposes.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. The debentures being offered have not been and will not be registered under the U.S. Securities Act of 1933 and state securities laws. Accordingly, the debentures may not be offered or sold to U.S. persons except pursuant to applicable exemptions from registration requirements.

About RioCan

RioCan is Canada's largest real estate investment trust with a total market capitalization of approximately $7.8 billion. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 207 retail properties, including 10 under development, containing an aggregate of over 53 million square feet. For further information, please refer to RioCan's website at www.riocan.com.

Contact Information

  • RioCan Real Estate Investment Trust
    Edward Sonshine, Q.C.
    President & CEO
    (416) 866-3018
    Website: www.riocan.com