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TORONTO,
June 20, 2013 /CNW/ - H&R Real
Estate Investment Trust ("H&R REIT") (TSX: HR.UN; HR.DB.C;
HR.DB.D; HR.DB.E; HR.DB.H) announced today that it closed its
previously announced offering of $175
million principal amount of 3.344% Series G Senior
Debentures due June 20, 2018 (the
"Debentures"). H&R REIT had previously agreed to sell the
Debentures to a syndicate of underwriters co-led by RBC Capital
Markets and CIBC, on a bought deal basis. The net proceeds from the
offering of the Debentures will be utilized by H&R REIT to
repay outstanding indebtedness incurred under existing credit
facilities thereby enabling H&R REIT to have greater financial
capacity to pursue future acquisitions and developments, and
otherwise for general trust purposes.
About H&R REIT
H&R REIT is an open-ended real estate
investment trust, which owns a North American portfolio of 40
office, 112 industrial and 163 retail properties comprising over 53
million square feet and 3 development projects, with a fair value
of approximately $13 billion. The
foundation of H&R's success since inception in 1996 has been a
disciplined strategy that leads to consistent and profitable
growth. H&R REIT lease its properties to long-term creditworthy
tenants and strives to match those leases with primarily long-term,
fixed-rate financing.
Forward-looking Statements
Certain statements in this news release contain
forward-looking information within the meaning of applicable
securities laws (also known as forward-looking statements),
including, in particular, H&R REIT's expectations regarding the
use of proceeds of the offering. Such forward-looking statements
reflect H&R REIT's current beliefs and are based on information
currently available to management. These statements are not
guarantees of future performance and are based on H&R REIT's
estimates and assumptions that are subject to risks and
uncertainties, including those discussed in H&R REIT's
materials filed with the Canadian securities regulatory authorities
from time to time, which could cause the actual results and
performance of H&R REIT to differ materially from the
forward-looking statements contained in this news release. Those
risks and uncertainties include, among other things, risks related
to: prices and market value of securities of H&R REIT;
availability of cash for distributions; restrictions pursuant to
the terms of indebtedness; liquidity; credit risk and tenant
concentration; interest rate and other debt related risk; tax risk;
ability to access capital markets; dilution; lease rollover risk;
construction risks; currency risk; unitholder liability;
co-ownership interest in properties; competition for real property
investments; environmental matters; reliance on one corporation for
management of substantially all H&R REIT's properties; and
changes in legislation and indebtedness of H&R REIT. Material
factors or assumptions that were applied in drawing a conclusion or
making an estimate set out in the forward-looking statements
include that the general economy is stable; local real estate
conditions are stable; interest rates are relatively stable; and
equity and debt markets continue to provide access to capital.
H&R REIT cautions that this list of factors is not exhaustive.
Although the forward-looking statements contained in this news
release are based upon what H&R REIT believes are reasonable
assumptions, there can be no assurance that actual results will be
consistent with these forward-looking statements. All
forward-looking statements in this news release are qualified by
these cautionary statements. These forward-looking statements are
made as of today and H&R REIT, except as required by applicable
law, assumes no obligation to update or revise them to reflect new
information or the occurrence of future events or
circumstances.
SOURCE H