Cominar REIT Completes Debt Offering

Cominar Real Estate Investment Trust closed the public offering of its Series 5 floating rate senior unsecured debentures due October 9, 2015 in the principal amount of $250 million. The debentures were offered at a price of $1,000 per $1,000 principal amount of debentures.

The debentures were sold pursuant to an agency agreement with National Bank Financial Inc. and BMO Capital Markets, as co-lead agents, along with a syndicate that also included RBC Dominion Securities Inc., Desjardins Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc. and Macquarie Capital Markets Canada Ltd., for total net proceeds to Cominar of approximately $249.3 million after deducting the agents' fee and the expenses of the offering. Cominar intends to use the net proceeds of the offering to repay amounts outstanding under its credit facility and for general trust purposes.

Cominar REIT was represented by a team at Davies Ward Phillips & Vineberg LLP that comprised Sébastien Roy and Elise Beauregard (corporate finance/securities) and Fred Purkey (tax).

The agents were represented by Lavery, de Billy, L.L.P. with a team of Marc Rochefort, Michel Servant, Guillaume Lavoie and Maxime Bergeron (corporate finance/securities) and Philip Nolan (tax).