RioCan Real Estate Investment Trust

RioCan Real Estate Investment Trust

August 30, 2007 12:31 ET

RioCan Real Estate Investment Trust Announces Increase of its Series K Senior Unsecured Debenture Issue

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


RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) is pleased to announce that it has reached an agreement with Scotia Capital Inc. ("Scotia Capital") to increase the amount of its bought deal to $120 million, up from $100 million as announced earlier today. RioCan has agreed to issue, on a bought deal basis, $120 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. 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

Contact Information

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