RioCan Real Estate Investment Trust announces offering of $250 million, 7-year Series AF senior unsecured debentures at a coupon rate of 4.628% with an all-in interest rate of 3.829% after including the benefits of its bond forward hedges

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Last update: Apr 7, 2022

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TORONTO, April 06, 2022 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced that it has agreed to issue $250 million principal amount of Series AF senior unsecured debentures (the “Debentures”). This issuance provides additional liquidity to RioCan to support its strategy, pursue opportunities and manage potential risks. Inclusive of the benefit of bond forward hedges, the all-in rate of 3.829% is favourable compared to current market rates and RioCan has an additional $250 million of bond forward contracts in place to hedge future issuances.