/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/
TORONTO, Nov. 1, 2024
/CNW/ - First Capital Real Estate Investment Trust ("First
Capital" or the "REIT") (TSX: FCR.UN) announced today that it has
closed its previously announced offering (the "Offering") of
C$200 million aggregate principal
amount of Series D senior unsecured debentures (the "Debentures")
on a private placement basis.
The Debentures were offered on an agency basis by a syndicate of
agents co‐led by Desjardins Capital Markets, RBC Capital Markets
and TD Securities. The Debentures were issued at a price of
$99.995 per $100.00 principal amount of Debentures, bear
interest at a rate of 4.513% per annum and will mature on
June 3, 2030. Inclusive of the
benefit of bond forward hedges, the REIT's all-in interest rate
will be approximately 4.47% per annum.
The Debentures are rated "BBB (positive)" by Morningstar
DBRS.
The net proceeds of the Offering will be used to repay existing
debt and for general business purposes.
The securities offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent
registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About First Capital REIT (TSX: FCR.UN)
First Capital owns, operates and develops grocery-anchored,
open-air centres in neighbourhoods with the strongest demographics
in Canada.
Forward‐looking Statement Advisory
This press release contains forward‐looking statements and
information within the meaning of applicable securities laws,
including statements about the use of proceeds from the Offering
and the effect of bond forward hedges. These forward‐looking
statements are not historical facts but, rather, reflect First
Capital's current expectations and are subject to risks and
uncertainties that could cause the outcome to differ materially
from current expectations. Such risks and uncertainties include
those discussed in First Capital's Management's Discussion and
Analysis for the year ended December 31,
2023 and for the quarter ended September 30, 2024 and in its current Annual
Information Form. Readers, therefore, should not place undue
reliance on any such forward‐looking statements. First Capital
undertakes no obligation, except as required by applicable
securities laws, to publicly update or revise any such
forward‐looking statement, whether as a result of new information,
future events or otherwise. All forward‐looking statements in this
press release are made as of the date hereof and are qualified by
these cautionary statements.
SOURCE First Capital Real Estate Investment Trust