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An announcement from RioCan Real Estate Investment ( ($TSE:REI.UN) ) is now available.
RioCan Real Estate Investment Trust has announced the issuance of $550 million in senior unsecured debentures, divided into two series: Series AN and Series AO. The funds raised will be primarily used to repay existing debt, with any remaining proceeds allocated for general business purposes. The offering is expected to close on February 12, 2025, and is subject to customary closing conditions, including a stable rating from Morningstar DBRS. This move aims to strengthen RioCan’s financial position by refinancing its debt while maintaining its operational strategy.
More about RioCan Real Estate Investment
RioCan is one of Canada’s largest real estate investment trusts, specializing in owning, managing, and developing retail-focused, mixed-use properties in prime, high-density, transit-oriented areas. As of September 30, 2024, its portfolio consists of 186 properties with an aggregate net leasable area of approximately 33 million square feet.
YTD Price Performance: -1.25%
Average Trading Volume: 54,338
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $3.81B
For detailed information about REI.UN stock, go to TipRanks’ Stock Analysis page.
