By Cristal Cody
Tupelo, Miss., Oct. 2- H&R Real Estate Investment Trust said in a news release on Wednesday that it sold C$235 million of two-year floating-rate senior debentures at par to yield 150 basis points over CDOR in a private placement in Canada.
The series H debentures (DBRS: BBB) are due Oct. 9, 2015.
TD Securities Inc. was the lead manager.
H&R REIT plans to use the proceeds to repay existing debt and for general trust purposes.
The Downsview, Ont.-based REIT owns office, industrial and retail properties in North America.
| Issuer: | H&R Real Estate Investment Trust
|
| Amount: | C$235 million
|
| Maturity: | Oct. 9, 2015
|
| Securities: | Senior debentures
|
| Bookrunner: | TD Securities Inc.
|
| Coupon: | 150 bps over CDOR
|
| Price: | Par
|
| Yield: | 150 bps over CDOR
|
| Pricing date: | Oct. 2
|
| Settlement date: | Oct. 9
|
| Rating: | DBRS: BBB
|
| Distribution: | Canada private placement
|
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