On August 25, 2017, H&R Real Estate Investment Trust (H&R REIT) completed a public offering of an additional $125 million principal amount of 2.923-per-cent series L senior unsecured debentures due May 6, 2022. The debentures were sold to a syndicate of underwriters co-led by TD Securities, BMO Nesbitt Burns Inc., CIBC World Markets Inc. and Scotia Capital Inc., and including National Bank Financial Inc. The net proceeds of the offering will be utilized by H&R REIT for general trust purposes, including the redemption of H&R REIT’s 5.40-per-cent convertible unsecured subordinated debentures due November 30, 2018.
H&R REIT was represented by Blake, Cassels & Graydon LLP with a team that included William Fung, Eric Moncik, Matthew Merkley, Jeremy Ozier and Lauren Leahy (securities), and Jeffrey Trossman, Andrew Spiro, Ian Caines and Shavone Bazarkewich (tax).
The underwriters were represented by Goodmans LLP with a team of Allan Goodman, Emily Ting and Sarah Macchione (securities), Ken Herlin (real estate) and Kabir Jamal (tax).