Kimco North Trust III Completes $150M Notes Offering

On April 13, 2010, Kimco North Trust III, an entity controlled by Kimco Realty Corp., a US-based REIT, issued $150 million principal amount of notes due in 2018 by private placement.

Kimco Realty, the guarantor of the notes, owns and operates community shopping centres.

The underwriters were led by RBC Capital Markets and included Scotia Capital Inc. and CIBC World Markets Inc. The proceeds from the offering were used to repay the holders of notes that came to maturity on April 21, 2010.

Kimco Realty and Kimco North Trust III were represented by Davies Ward Phillips & Vineberg LLP, with respect to both Canadian and US matters, with a team that comprised Hillel Rosen, Neil Kravitz and Trevor Rowles (corporate) and Rhonda Rudick (tax) in Montréal; and Marc Berger and Scott Tayne (corporate) and Abraham Leitner (tax) in New York.

RBC Capital Markets, Scotia Capital Inc. and CIBC World Markets Inc. were represented by McCarthy Tétrault LLP with respect to Canadian matters, with a team that included David Woollcombe, Andrew Parker and Matthew Appleby (business law).