RioCan REIT Completes $150M Debenture Offering

RioCan Real Estate Investment Trust (“RioCan”) completed an offering of $150 million principal amount of Series P senior unsecured debentures.

The underwriting syndicate for the offering was co-led by RBC Capital Markets, TD Securities Inc. and Scotia Capital and included BMO Nesbitt Burns Inc., CIBC World Markets Inc. and National Bank Financial Inc. The Debentures carry a coupon rate of 3.80 per cent and mature on March 1, 2017. The offering was made under a prospectus supplement dated January 23, 2012 to RioCan's amended and restated base shelf short form prospectus dated December 21, 2010.

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $12.5 billion as at December 31, 2011. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 331 retail properties containing an aggregate of over 79 million square feet, including 45 grocery anchored and new format retail centres containing 12 million square feet in the United States through various joint venture arrangements. RioCan's portfolio also includes 10 properties which are under development in Canada.

Goodmans LLP represented RioCan with a team that included David Matlow, Brenda Gosselin and Rob Kallio (corporate/securities) and Maureen Berry (tax). Sébastien Vézina, Jean-François Lauzon and Michèle Gamache of Lavery, de Billy L.L.P. assisted RioCan in Québec.

Torys LLP represented the Underwriters with a team that included Christopher Fowles, Ryan Unruch and Mohammed Muraj (corporate/securities); Grace Pereira (tax); Bill Lamoureux (real estate); Reesha Hosein (employment) and Tyson Dyck (environment).

Lawyer(s)

Maureen Berry Reesha N. Hosein Brenda Gosselin Grace Pereira Mohammed Muraj Bill Lamoureux Robert Kallio Christopher J. Fowles Michèle Gamache Tyson W. Dyck David J. Matlow