Redemption of Series V Senior Unsecured Debentures NOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, Oct. 26, 2021 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced that it is issuing a notice of redemption to holders of its $250 million, 3.746% Series V senior unsecured debentures due May 30, 2022 (the “Debentures”). The Debentures will be redeemed in full on November 30, 2021 (the “Redemption Date”) in accordance with their terms.
Pursuant to the terms of the trust indenture governing the Debentures, the Debentures will be redeemed at a redemption price equal to the greater of the “Canada Yield Price” and par, together in each case with accrued and unpaid interest to the Redemption Date. The “Canada Yield Price” calculated in accordance of the terms of the governing trust indenture, is $1,015.06 per $1,000 of principal amount of the Debentures. Accordingly, the Debentures will be redeemed effective on the Redemption Date at a price equal to $1,015.06 per $1,000 of principal amount of the Debentures plus $18.73 per $1,000 of principal amount for accrued and unpaid interest up to but excluding the Redemption Date. The aggregate redemption price payable by RioCan on the Redemption Date is approximately $253,765,000 plus accrued interest of $4,682,500.
https://www.globenewswire.com/news-release/2021/10/26/2321269/0/en/RioCan-Real-Estate-Investment-Trust-Announces-Redemption-of-Series-V-Senior-Unsecured-Debentures.html