RioCan Real Estate Investment Trust
TSX : REI.UN

RioCan Real Estate Investment Trust

December 21, 2010 08:43 ET

RioCan Real Estate Investment Trust Announces Completion of $139.7 Million Public Offering of Trust Units Including the Over-Allotment Option

TORONTO, ONTARIO--(Marketwire - Dec. 21, 2010) -

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RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced that it has successfully completed the issuance of 6,425,000 units for $21.75 per unit for total gross proceeds of $139,743,750. The offering includes the previously announced issuance of 5,775,000 trust units for $21.75 per unit for gross proceeds of $125,606,250, together with 650,000 units issued pursuant to the over-allotment option exercised by the underwriters at a price of $21.75 per unit for additional gross proceeds of $14,137,500. The underwriting syndicate for the offering was co-led by RBC Capital Markets, BMO Capital Markets, and TD Securities Inc. 

The offering was made under RioCan's base shelf prospectus dated July 6, 2010. The terms of the offering are described in a prospectus supplement dated December 8, 2010, which was filed with Canadian securities regulators. 

About RioCan

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $10.0 billion as at September 30, 2010. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 296 retail properties, including 11 under development, containing an aggregate of over 66 million square feet. RioCan owns an 80% interest in 30 grocery anchored and new format retail centres in the United States through various joint venture arrangements. In addition, RioCan owns a 14% equity interest in Cedar Shopping Centres, 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