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TORONTO, Feb. 9, 2015 /CNW/ - H&R Real Estate
Investment Trust ("H&R REIT") (TSX: HR.UN; HR.DB.D; HR.DB.E;
HR.DB.H) announced today that it completed its previously announced
offering of US$125 million principal
amount of floating rate Series J senior unsecured debentures due
February 9, 2018 (the "Series J
Debentures"). H&R REIT had previously agreed with a syndicate
of agents led by TD Securities Inc. to sell the Series J Debentures
on a private placement "best efforts" agency basis. The Series J
Debentures have been issued at par, bear interest at a rate equal
to 3-month LIBOR plus 108 basis points payable quarterly in arrears
and mature on February 9, 2018. The
net proceeds of the offering will be used for the repayment of
existing indebtedness and for general trust purposes.
About H&R REIT
H&R REIT is Canada's
largest diversified real estate investment trust with total assets
of approximately $13.6 billion as at
September 30, 2014. H&R REIT is a
fully internalized REIT and has ownership interests in a North
American portfolio of high quality office, retail and industrial
properties comprising over 55 million square feet.
Forward-looking Statements
Certain information in this news release contains
forward-looking information within the meaning of applicable
securities laws (also known as forward-looking statements)
including, among others, statements relating to the objectives of
H&R REIT, strategies to achieve those objectives, H&R
REIT's beliefs, plans, estimates, and intentions, and similar
statements concerning anticipated future events, results,
circumstances, performance or expectations that are not historical
facts. Forward-looking statements generally can be identified
by words such as "outlook", "objective", "may", "will", "expect",
"intend", "estimate", "anticipate", "believe", "should", "plans",
"project", "budget" or "continue" or similar expressions suggesting
future outcomes or events. 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 risk 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 statement 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; 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
those 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.
Additional information regarding H&R REIT and H&R
Finance Trust is available at www.hr-reit.com and on
www.sedar.com.
SOURCE H&R Real Estate Investment Trust