Cominar Real Estate Investment Trust Completes Offering

Cominar Real Estate Investment Trust (“Cominar”), the third-largest diversified real estate investment trust in Canada and the largest commercial property owner in Québec, completed the offering of its 4 per cent Series 3 senior unsecured debentures due November 2, 2020, in the principal amount of $100 million. Cominar intends to use the net proceeds of the offering to repay amounts outstanding under its credit facility and for general trust purposes, thus replacing shorter-term debt with longer-term debt at a favorable long-term interest rate without increasing its aggregate indebtedness.

The offering was completed on a bought deal basis with a syndicate of underwriters co-led by National Bank Financial Inc. and BMO Nesbitt Burns Inc., and which included RBC Dominion Securities Inc., Desjardins Securities Inc., CIBC World Markets Inc., Scotia Capital Inc. and TD Securities Inc.

Cominar was represented by Davies Ward Phillips & Vineberg LLP, with a team that included Sébastien Roy and Christine Lenis (corporate finance and securities) and Fred Purkey (tax).

The underwriters were represented by Lavery, de Billy, L.L.P. with a team that included Marc Rochefort, Michel Servant, Guillaume Lavoie and Geneviève Fournier (corporate finance and securities) and Philip Nolan (tax).