RioCan Real Estate Investment Trust
TSX : REI.UN

RioCan Real Estate Investment Trust

September 21, 2010 09:12 ET

RioCan Real Estate Investment Trust Closes Offering of US$100 Million Series N Senior Unsecured Debentures

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

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 closed the US$100 million principal amount of Series N senior unsecured debentures issue announced on September 13, 2010. Maturing on September 21, 2015, these debentures carry a coupon rate of 4.10%. The debentures were sold on a bought deal basis by a syndicate co-led by RBC Capital Markets and Scotia Capital.

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 269 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 www.riocan.com.

Contact Information

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