/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES./
TORONTO, May 16, 2016 /CNW/ - CT Real Estate Investment Trust (CT
REIT), (TSX: CRT.UN) announced today that it has agreed to issue, on an agency basis, $350 million
aggregate principal amount of senior unsecured debentures (the "Debentures") of CT REIT in two series (the "Debenture
Offering"). The Debenture Offering is being made under CT REIT's short form base shelf prospectus dated March 5, 2015. The terms of the Debenture Offering will be described in a prospectus supplement, dated
May 16, 2016, to be filed with Canadian securities regulators in each of the provinces and
territories of Canada. The Debenture Offering is expected to close on or about May 31, 2016.
The Debenture Offering includes $150 million principal amount of series C senior unsecured
debentures with a 5-year term and a coupon of 2.159% per annum and $200 million principal amount of
series D senior unsecured debentures with a 10-year term and a coupon of 3.289% per annum. It is expected that the Debentures will
be rated "BBB+" by Standard and Poor's Ratings Service and "BBB(high)" by DBRS Limited. The Debentures will be direct senior
unsecured obligations of CT REIT.
CT REIT intends to use the proceeds of the Debenture Offering to pay down certain amounts outstanding under its credit facility,
and to retain the balance of the proceeds for general business purposes.
The Debenture Offering is led by RBC Capital Markets and BMO Capital Markets.
The Debentures 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 Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About CT Real Estate Investment Trust
CT Real Estate Investment Trust (TSX:CRT.UN) is an unincorporated, closed end real estate investment trust formed to own income
producing commercial properties primarily located in Canada. Its portfolio is comprised of 298 properties totaling over 22.7
million square feet of GLA, consisting primarily of retail properties located across Canada. Canadian Tire Corporation,
Limited is CT REIT's most significant tenant. For more information, visit ctreit.com.
Forward–Looking Statements
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects
CT REIT's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is
subject to a number of risks and uncertainties, many of which are beyond CT REIT's control, that could cause actual results and
events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and
uncertainties include, but are not limited to the factors discussed under "Risk Factors" in CT REIT's 2015 Annual Information Form
and its MD&A for the period ended December 31, 2015, which are both available on CT REIT's
website at www.ctreit.com and on SEDAR at www.sedar.com. CT REIT does not undertake any obligation to update such
forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by
applicable law.
SOURCE CT Real Estate Investment Trust (CT REIT)
