/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./
TORONTO, Jan. 23, 2017 /CNW/ - H&R Real Estate
Investment Trust ("H&R REIT") (TSX: HR.UN; HR.DB.D; and
HR.DB.H) announced today that it completed its previously announced
offering of $150 million principal
amount of floating rate Series M senior unsecured debentures due
July 23, 2019 (the "Series M
Debentures"). H&R REIT had previously agreed with a syndicate
of agents co-led and bookrun by TD Securities, Scotia Capital, BMO
Capital Markets and CIBC World Markets to sell the Series M
Debentures on a private placement "best efforts" agency basis. The
Series M Debentures have been issued at par, bear interest at a
rate equal to 3-month CDOR plus 123 basis points payable quarterly
in arrears and mature on July 23,
2019. 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 $14.5 billion at
September 30, 2016. H&R REIT is a
fully internalized real estate investment trust and has ownership
interests in a North American portfolio of high quality office,
retail, industrial and residential properties comprising over 46
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. 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.
SOURCE H&R Real Estate Investment Trust