TORONTO, ONTARIO--(Marketwired - Nov. 13, 2014) -
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 reached an agreement with a syndicate of underwriters co-led by RBC Capital Markets, TD Securities Inc. and BMO Capital Markets to issue to the public, subject to regulatory approval, 4,800,000 trust units (the "Units") for $26.25 per Unit for gross proceeds of $126,000,000.
RioCan will use the proceeds from this equity offering to fund development, for property acquisitions, to repay certain indebtedness and for general trust purposes.
The offering is being made under RioCan's base shelf short form prospectus dated July 7, 2014. The terms of the offering will be described in a prospectus supplement to be filed with Canadian securities regulators. The offering is expected to close on or about November 24, 2014.
The press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. The Units being offered have not been and will not be registered under the U.S. Securities Act of 1933 and state securities laws. Accordingly, the Units may not be offered or sold to U.S. persons except pursuant to applicable exemptions from registration.
About RioCan:
RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $14.7 billion as at September 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 80 million square feet, including 48 grocery anchored and new format retail centres containing 13 million square feet in the United States as at September 30, 2014. RioCan's portfolio also includes 15 properties under development in Canada. For further information, please refer to RioCan's website at www.riocan.com.
Contact Information:
Rags Davloor
President, COO & Interim CFO
(416) 642-3554
www.riocan.com