Business & Finance
Tue, November 1, 2011Mon, October 31, 2011Sun, October 30, 2011Sat, October 29, 2011Fri, October 28, 2011Thu, October 27, 2011Wed, October 26, 2011Tue, October 25, 2011Mon, October 24, 2011Sun, October 23, 2011Sat, October 22, 2011RioCan REIT Announces $100 Million Public Offering of Trust Units
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Published in Business and Finance on Thursday, October 27th 2011 at 13:34 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
October 27, 2011 16:11 ET
RioCan REIT Announces $100 Million Public Offering of Trust Units
TORONTO, ONTARIO--(Marketwire - Oct. 27, 2011) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) announced today that it has reached an agreement with a syndicate of underwriters co-led by RBC Capital Markets and TD Securities Inc. to issue to the public, subject to regulatory approval, 4,025,000 trust units (the "Units") for $24.85 per Unit for gross proceeds of $100,021,250. RioCan has also granted the underwriters an option, exercisable at any time up to 48 hours prior to the closing of the offering, to purchase a further 603,750 units at the issue price which, if fully exercised, would result in additional gross proceeds of $15,003,188.
RioCan will use the proceeds from this equity offering to repay certain indebtedness, for property acquisitions, to fund development and for general trust purposes.
The offering is being made under 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 6, 2010. The terms of the offering will be described in a prospectus supplement to be filed with Canadian securities regulators. The offering is expected to close on or about November 4, 2011.
The press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. The Units being offered have not been and will not be registered under the U.S. Securities Act of 1933 and state securities laws. Accordingly, the Units may not be offered or sold to U.S. persons except pursuant to applicable exemptions from registration.
About RioCan:
RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $11.9 billion as at September 30, 2011. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 314 retail properties containing an aggregate of over 75 million square feet, including 10 under development, and 38 grocery anchored and new format retail centres in the United States through various joint venture arrangements. For further information, please refer to RioCan's website at [ www.riocan.com ].
