TORONTO, ONTARIO--(Marketwire - Jan. 26, 2012) -

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RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced that it has successfully completed its issuance of $150 million principal amount of Series P senior unsecured debentures (the "Debentures"). The underwriting syndicate for the offering was co-led by RBC Capital Markets, TD Securities Inc. and Scotia Capital. The Debentures carry a coupon rate of 3.80% and will mature on March 1, 2017.

The offering was 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 are described in a prospectus supplement dated January 23, 2012, which was filed with Canadian securities regulators.

About RioCan

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $12.5 billion as at December 31, 2011. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 331 retail properties containing an aggregate of over 79 million square feet, including 45 grocery anchored and new format retail containing 12 million square feet in the United States through various joint venture arrangements. RioCan's portfolio also includes 10 properties under development in Canada. For further information, please refer to RioCan's website at [ www.riocan.com ].

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