First CapitalRealty Inc. agreed to issue C$150 million of 3.604% series T seniorunsecured debentures due May 6, 2026, on a bought-deal basis.
The new issuance is a re-opening of the series T debenturesafter a previous offering closed in May.
The company priced the additional debentures at C$102.431per C$100 principal amount plus accrued interest with a 3.30% effective yieldto maturity. A total amount of C$300 million of such debentures will beoutstanding after giving effect to the offering, which is set to close Sept. 29.
First Capital will use the net proceeds to partially fundthe capital requirements for its planned acquisitions, repay amounts outstanding on its seniorunsecured revolving credit facility and for general corporate purposes.
The syndicate of underwriters is led by TD Securities, RBCCapital Markets and Scotiabank.