RioCan REIT, Canada's largest REIT, completed an offering of $150-million principal amount of Series U senior unsecured debentures. The syndicate of underwriters for the offering was co-led by RBC Capital Markets, TD Securities, and BMO Capital Markets and included CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., and Raymond James Ltd. The debentures carry a coupon rate of 3.62 per cent and will mature on June 1, 2020.
The offering was made under RioCan's base shelf short form prospectus dated June 11, 2012.
RioCan was represented by Goodmans LLP with a team including David Matlow, Brenda Gosselin, Keir Hunt and Jeremy Weisz (corporate/securities) and Maureen Berry (tax). Sébastien Vézina and Jean-François Lauzon of Lavery, de Billy, L.L.P. assisted RioCan in Quebec.
The underwriters were represented by Torys LLP with a team including Pat Koval and Josh Lavine (corporate/securities); Mark Di Giovanni (real estate) and Tyson Dyck (environmental).