RioCan Real Estate Investment Trust

RioCan Real Estate Investment Trust

September 13, 2010 09:33 ET

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

TORONTO, ONTARIO--(Marketwire - Sept. 13, 2010) -


RioCan Real Estate Investment Trust (TSX:REI.UN) ("RioCan") announced today that it has agreed to issue, US$100 million principal amount of Series N senior unsecured debentures. These debentures will carry a coupon rate of 4.10% and will mature on September 21, 2015. The debentures will be sold on a bought deal basis by a syndicate led by RBC Capital Markets and Scotia Capital. Closing of this issue is expected on or about September 21, 2010.

This offering is being made under RioCan's base shelf prospectus dated July 6, 2010. 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 to enhance its liquidity for property acquisitions, to fund development and 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 capitalization of approximately $8.6 billion as at June 30, 2010. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 267 retail properties, including 11 under development, containing an aggregate of over 60 million square feet. RioCan owns an 80% interest in nine grocery anchored shopping centres in the United States through its joint venture arrangement with Cedar. In addition, RioCan owns a 14% equity interest in Cedar Shopping Centers, 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

Contact Information

  • RioCan Real Estate Investment Trust
    Rags Davloor
    Senior Vice President & CFO
    (416) 642-3554