QUÉBEC CITY, Sept. 9, 2014 /CNW
Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX:
CUF.UN) announced today that, as previously announced, it has
formally introduced a covenant to its senior unsecured indebtedness
platform requiring it to maintain unencumbered aggregate assets in
an amount of not less than 130% of the aggregate principal amount
of its senior unsecured indebtedness outstanding. This addition
will benefit each existing and outstanding series of senior
unsecured debentures of Cominar.
As at the date hereof, Cominar's unencumbered aggregate assets,
established pursuant to the senior unsecured indebtedness platform,
stand at $2.7 billion representing
171% of aggregate principal amount of senior unsecured indebtedness
outstanding.
Cominar's sixth supplemental indenture, by way of which the
covenant was introduced, is available on SEDAR at
www.sedar.com.
PROFILE as at September 9,
2014
Cominar is the third largest diversified real estate investment
trust in Canada and currently
remains the largest commercial property owner in the Province of
Québec. The REIT owns a real estate portfolio of 526 properties in
three different market segments, that is, office properties, retail
properties and industrial and mixed-use properties. Cominar's
portfolio totals 39.5 million square feet spread out across Québec,
Ontario, the Atlantic Provinces
and Western Canada. Cominar's
objectives are to pay growing cash distributions to unitholders and
to maximize unitholder value through proactive management and the
expansion of its portfolio.
Cominar offers unitholders the opportunity to participate in its
Unitholder Distribution Reinvestment Plan, which allows them to
receive their monthly cash distributions as additional Cominar
units. Participants will be entitled to receive an additional
distribution equal to 5% of the distributions reinvested, which
will be reinvested in additional units. For more information and to
obtain a participation form, please visit Cominar's website at
www.cominar.com.
Forward-Looking Statements
This press release may contain forward-looking statements with
respect to Cominar and its operations, strategy, financial
performance and financial condition. These statements generally can
be identified by the use of forward-looking words such as "may",
"will", "expect", "estimate", "anticipate", "intend", "believe" or
"continue" or the negative thereof or similar variations. The
actual results and performance of Cominar discussed herein could
differ materially from those expressed or implied by such
statements. Such statements are qualified in their entirety by the
inherent risks and uncertainties surrounding future
expectations. Some important factors that could cause actual
results to differ materially from expectations include, among other
things, general economic and market factors, competition, changes
in government regulation and the factors described under "Risk
Factors" in the Annual Information Form of Cominar. The
cautionary statements qualify all forward-looking statements
attributable to Cominar and persons acting on its behalf. Unless
otherwise stated, all forward-looking statements speak only as of
the date of this press release.
SOURCE Cominar Real Estate Investment Trust