RioCan Real Estate Investment Trust Announces Completion of an Additional $100 Million Offering of the Series V Senior Unsecured Debentures

TORONTO, ONTARIO--(Marketwired - Aug. 11, 2014) -

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RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced that it has successfully completed its issuance of $100 million principal amount of Series V senior unsecured debentures (the "Additional Debentures"), which was a re-opening of the Series V senior unsecured debentures, the original issuance of which was completed on May 30, 2014. The Additional Debentures were issued at $1,010.70 per $1,000.00 for gross proceeds of $101,070,000 resulting in an effective interest rate of 3.587%. The underwriting syndicate for the offering was co-led by RBC Capital Markets, TD Securities and BMO Capital Markets. The Debentures carry a coupon rate of 3.746% and will mature on May 30, 2022.

The offering was made under RioCan's base shelf short form prospectus dated July 7, 2014. The terms of the offering are described in a prospectus supplement dated August 8, 2014 which was filed with Canadian securities regulators.

About RioCan

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $14.9 billion as at June 30, 2014. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 340 retail properties containing more than 81 million square feet, including 47 grocery anchored and new format retail containing 13 million square feet in the United States as at June 30, 2014. RioCan's portfolio also includes 16 properties under development in Canada. For further information, please refer to RioCan's website at www.riocan.com.