H&R REIT Completes $235 million Senior Unsecured Debenture Financing

H&R REIT completed an offering of $235-million principal amount of floating rate series H senior unsecured debentures due October 9, 2015.

The debentures were sold on a private placement “best efforts” agency basis by a syndicate of agents led by TD Securities Inc., and which included RBC Dominion Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., and BMO Nesbitt Burns Inc.

The net proceeds of the offering will be used by H&R Real Estate Investment Trust for the repayment of existing indebtedness and for general trust purposes.

H&R Real Estate Investment Trust was represented by Blake, Cassels & Graydon LLP with a team that included William Fung, Eric Moncik, Matthew Merkley and Kenneth Prichard (securities) and Peter MacGowan (financial services).

The agents were represented by Goodmans LLP with a team that included Allan Goodman and Joanna Creed (securities) and Ken Herlin (real estate).
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