RioCan Real Estate Investment Trust Announces $ 450 Million Series AE Senior Unsecured 7 Year Green Bond Issue at 2.829% Annual Coupon Rate


NOT FOR US WIRE DISTRIBUTION OR FOR UNITED STATES DISTRIBUTION

TORONTO, Oct. 26, 2021 (GLOBE NEWSWIRE) – RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced that it has agreed to issue capital of $ 450 million Series AE Senior Unsecured Debentures (the “Debentures”). This issue is RioCan’s third green bond offering.

The Debentures are offered on an agency basis by a syndicate of agents co-led by TD Securities, RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets and Scotia Capital Inc. The Debentures will be sold at par, bear a coupon rate of 2.829% per annum and expires on November 8, 2028. Subject to customary closing conditions, the offer is expected to close on November 8, 2021.

Series AE Debentures are issued as Green Bonds under RioCan’s Green Bond Framework, which Sustainalytics, a global leader in ESG research and analysis, has reviewed and confirmed in its independent opinion. second party as being in compliance with the Green Bond of the International Capital Markets Association. 2018 Principles. RioCan’s Green Bond Framework and the opinion of a corresponding independent second party from Sustainalytics are available on the RioCan website on the Corporate Responsibility page under Reports and Information.

RioCan intends to use an amount equal to the net proceeds of this offering to fund, in whole or in part, expenses associated with qualifying green projects, as described under RioCan’s Green Bonds. Prior to the allocation of the net proceeds of this offering to Eligible Green Projects, the net proceeds may be initially used, in part or in whole, for the repayment of certain RioCan credit facilities, and will ultimately be allocated to Eligible Green Projects in accordance with RioCan Green Bond Framework.

The closing condition is that DBRS Limited assigns a rating of at least BBB (high) with a negative trend and that Standard & Poor’s assigns a rating of at least BBB for debentures with a negative outlook to the assigned entity rating. at RioCan.

The offer is being made on the basis of a private placement in each of the provinces of Canada, and the Debentures will be issued in accordance with RioCan’s Indenture dated March 8, 2005, as completed. The Debentures will rank pari passu with all other senior unsecured indebtedness of the Trust.

The Offered Debentures have not been registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the requirements of registration. The press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be illegal.

About RioCan
RioCan is one of the largest real estate investment trusts in Canada. RioCan owns, manages and develops increasingly versatile retail-oriented properties located in prime, high-density transit-oriented areas where Canadians want to shop, live and work. As at June 30, 2021, our portfolio consisted of 214 buildings with a total net leasable area of ​​approximately 37.2 million square feet (for RioCan’s interest), including office buildings, residential rental properties and 15 buildings under development. To learn more about us, please visit www.riocan.com.

Forward-looking information
This press release contains forward-looking information within the meaning of applicable Canadian securities laws. This information reflects RioCan’s objectives, our strategies to achieve those objectives, as well as statements regarding the beliefs, estimates and intentions of management regarding anticipated future events or expectations that are not historical facts. Forward-looking information can generally be identified by the use of forward-looking terminology such as “outlook”, “objective”, “could”, “will”, “would expect”, “intend”, “estimate”. “,” Anticipate “,” believe “,” should “,” plan “,” continue “or similar expressions suggesting future results or events.

This forward-looking information reflects the current beliefs of management and is based on information currently available to management. All forward-looking information contained in this press release is subject to these cautionary statements.

Forward-looking information is not a guarantee of future events or performance and, by its nature, is based on RioCan’s current estimates and assumptions, which are subject to numerous risks and uncertainties, including those described in section RioCan Report “Risks and Uncertainties”. Management’s Discussion and Analysis for the period ended June 30, 2021 and in our most recent Annual Information Form, which could cause actual events or results to differ materially from the forward-looking information contained in this press release.

Although the forward-looking information contained in this press release is based on what management considers reasonable assumptions, there can be no assurance that actual results will be consistent with such forward-looking information.

The forward-looking statements contained in this press release are made as of the date hereof and should not be taken as representing the views of RioCan as of any date subsequent to the date of this press release. Management assumes no obligation, except as required by applicable law, to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.


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