H&R REIT Completes Debenture Financing

H&R Real Estate Investment Trust completed an offering of $60-million principal amount of floating rate series I senior unsecured debentures due January 23, 2017. The debentures were sold on a private placement “best efforts” agency basis by a syndicate of agents led by TD Securities Inc. and included RBC Dominion Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., and BMO Nesbitt Burns Inc. The net proceeds of the offering will be used by H&R REIT for the repayment of existing indebtedness and for general trust purposes.

H&R REIT was represented by Blake, Cassels & Graydon LLP with a team of William Fung, Eric Moncik, Matthew Merkley and Kenneth Prichard (securities) and Peter MacGowan (financial services).

The agents were represented by Goodmans LLP with a team of Allan Goodman, Joanna Creed and David Wallace (securities) and Ken Herlin (real estate).