trending Market Intelligence /marketintelligence/en/news-insights/trending/pG5KJb52lQNhpN9w536TfA2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

RioCan REIT to offer C$300M of series Z senior debentures

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition

Blog

Corporate Credit Risk Trends in Developing Markets: A Probability of Default Perspective


RioCan REIT to offer C$300M of series Z senior debentures

RioCan Real Estate Investment Trust struck a deal to issue C$300 million principal amount of series Z senior unsecured debentures to the public.

The securities will carry a 2.194% coupon rate and mature April 9, 2021. They are being offered on a best-efforts agency basis by a syndicate of agents co-led by RBC Capital Markets, TD Securities and BMO Capital Markets.

The company will use the net proceeds to finance development, acquire properties, repay certain debt, and for general trust purposes.

RioCan expects to close the offering by April 10, noting that a condition of closing is that DBRS Ltd. assign the debentures a BBB(high) rating with a stable trend and S&P Global Ratings assign them a BBB rating.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.