Chicago, Feb. 27 – First Capital Real Estate Investment Trust agreed to issue C$300 million of 5.572% series B debentures due 2031 (DBRS: BBB), according to a press release.
Inclusive of the benefit of bond forward hedges, the REIT's all-in interest rate will be 5.481%.
Desjardins Capital Markets, RBC Capital Markets and TD Securities comprise the syndicate of agents.
Proceeds will be used to repay existing debt.
Toronto-based First Capital owns, operates and develops grocery-anchored, open-air centers in neighborhoods
| Issuer: | First Capital Real Estate Investment Trust
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| Amount: | C$300 million
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| Issue: | Series B senior debentures
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| Maturity: | March 1, 2031
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| Bookrunners: | Desjardins Capital Markets, RBC Capital Markets and TD Securities
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| Coupon: | 5.572%
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| Announcement date: | Feb. 27
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| Settlement date: | March 1
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| Ratings: | DBRS: BBB
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| Distribution: | Canadian private placement
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