RioCan REIT Completes $230M Offering of Trust Units

RioCan Real Estate Investment Trust (“RioCan”) completed its issuance of an aggregate of 8,584,750 trust units (the “Units”) at a price of $26.80 per Unit for aggregate gross proceeds of $230,071,300. The aggregate offering was comprised of the previously announced issuance of 7,465,000 Units at $26.80 per Unit for gross proceeds of $200,062,000, together with the option granted to the underwriters, which was exercised in full, for an issuance of an additional 1,119,750 Units for $26.80 per Unit for additional gross proceeds of $30,009,300.

The underwriting syndicate for the offering was co-led by RBC Capital Markets and TD Securities Inc. and included BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., Canaccord Genuity Corp., Citi-group Global Markets Canada Inc., Macquarie Capital Markets Canada Ltd., and Raymond James Ltd. The offering was made under a prospectus supplement dated April 13, 2012, to RioCan's amended and restated base shelf short form prospectus dated December 21, 2010 amending and restating the base shelf short form prospectus dated July 26, 2010.

RioCan is Canada's largest real estate investment trust with a total capitalization of around $12.5 billion and ownership interests in a portfolio of 331 retail properties.

Goodmans LLP represented RioCan with a team that included David Matlow, Brenda Gosselin and Rob Kallio (corpo-rate/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 Patricia Koval and Mohammed Muraj (corpo-rate/securities); Grace Pereira (tax); Bill Lamoureux (real estate); Tyson Dyck (environmental) and Jessica Bullock (pen-sions).


Mohammed Muraj Bill Lamoureux Robert Kallio Brenda Gosselin Patricia A. Koval Michèle Gamache David J. Matlow Maureen Berry Tyson W. Dyck Jessica Bullock Sébastien Vézina Grace Pereira