RioCan Expands Debenture Offering to $150 Million

Riocan Reit (TSE:REI.UN) has released an update.

RioCan Real Estate Investment Trust has announced the issuance of an additional $150 million in Series AJ Senior Unsecured Debentures, with a 5.470% interest rate and maturing in 2030. These debentures will be offered at a price slightly above par with an all-in interest rate of 5.273%, and are set to rank equally with other senior unsecured debts of the Trust. The funds raised will be allocated towards repaying existing indebtedness, with the offering expected to close by March 28, 2024.

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