RioCan Real Estate Investment Trust
TSX : REI.UN

RioCan Real Estate Investment Trust

September 11, 2007 09:23 ET

RioCan Real Estate Investment Trust Announces Completion of $120 Million Series K Senior Unsecured Debenture Issue

TORONTO, ONTARIO--(Marketwire - Sept. 11, 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 completed its previously announced issue, on a bought deal basis, of $120 million principal amount of Series K senior unsecured debentures. These debentures carry a coupon rate of 5.70% and will mature on September 11, 2012. The offering was underwritten by Scotia Capital Inc.

This offering is being made under RioCan's shelf prospectus dated May 19, 2006. The terms of the offering are described in a prospectus supplement dated September 4, 2007, which was filed with Canadian securities regulators.

The Series K debentures have been rated BBB- by Standard & Poor's and BBB (high) by Dominion Bond Rating Services. The net proceeds from this offering will be used by RioCan for general trust purposes.

About RioCan

RioCan is Canada's largest real estate investment trust with a total market capitalization of approximately $7.7 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