By Wendy Van Sickle
Columbus, Ohio, Feb. 20 – H&R Real Estate Investment Trust priced C$250 million of five-year senior debentures on Tuesday at par to yield 5.457%, according to a news release.
CIBC World Markets Inc., Scotia Capital Inc. and National Bank Financial Inc. were the bookrunners of the private placement best-efforts offering.
Proceeds will be used to repay outstanding debt and for general trust purposes.
H&R REIT is a Toronto-based trust that has ownership interests in office, retail, industrial and residential properties.
| Issuer: | H&R Real Estate Investment Trust
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| Amount: | C$250 million
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| Issue: | Series T senior debentures
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| Maturity: | Feb. 28, 2029
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| Bookrunners: | CIBC World Markets Inc., Scotia Capital Inc. and National Bank Financial Inc.
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| Co-managers: | BMO Capital Markets, RBC Dominion Securities Inc. and TD Securities Inc.
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| Coupon: | 5.457%
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| Price: | Par
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| Yield: | 5.457%
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| Trade date: | Feb. 20
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| Settlement date: | Feb. 28
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| Distribution: | Canada private placement
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