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First Capital Realty Increases Senior Unsecured Revolving Credit Facility To $425 Million

^{Published on 2011-08-29 04:11:37 - Market Wire}
 

TORONTO, Aug. 29, 2011 /CNW/ - First Capital Realty Inc. ("First Capital Realty") (TSX:FCR) Canada's leading owner, developer and operator of supermarket and drugstore anchored neighbourhood and community shopping centres, located predominantly in growing metropolitan areas, announced today that it has increased its two-year senior unsecured revolving credit facility from $250 million to $425 million on the same terms.  TD Securities and Canadian Imperial Bank of Commerce served as Joint Bookrunners, with the Toronto-Dominion Bank acting as Administrative Agent and with a syndicate of lenders comprised of Toronto Dominion Bank, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Bank of Montreal, Bank of America, National Bank of Canada and Alberta Treasury Branches. Concurrently, the Company's existing $50 million syndicated secured facility has been terminated.

"We are pleased with the participation of these financial institutions in our senior unsecured syndicated facility," stated Karen H. Weaver, EVP & CFO of First Capital Realty.  "This unsecured facility remains an important part of our overall financial strategy and provides us with significant financing flexibility, which consists among other things of a $2.4 billion pool of unencumbered assets."

ABOUT FIRST CAPITAL REALTY (TSX:FCR)

First Capital Realty is Canada's leading owner, developer and operator of supermarket and drugstore anchored neighbourhood and community shopping centres, located predominantly in growing metropolitan areas. The Company currently owns interests in 165 properties, including four under development, totalling approximately 22.9 million square feet of gross leasable area and six sites in the planning stage for future retail development.