TORONTO, June 9, 2020 /CNW/ - H&R Real Estate
Investment Trust ("H&R REIT" or "H&R") (TSX: HR.UN) is
pleased to announce an offering (the "Offering") of $400 million principal amount of Series Q senior
unsecured debentures (the "Series Q Debentures"). The Series Q
Debentures are being offered on an agency basis by a syndicate of
agents co-led by CIBC World Markets Inc. and Scotia Capital Inc.,
and including BMO Capital Markets, TD Securities Inc. and National
Bank Financial Inc. These debentures will carry a coupon rate of
4.071% and will mature on June 16,
2025. The Offering is expected to close on or about
June 15, 2020. It is a condition of
closing that a final rating by DBRS of BBB (high) be obtained.
H&R intends to use the net proceeds of the Offering for the
repayment of outstanding indebtedness and for general trust
purposes.
The Offering of the Series Q Debentures is being made under
H&R REIT's existing short form base shelf prospectus dated
March 6, 2020. The terms of the
Offering of the Series Q Debentures will be described in a
prospectus supplement to be filed with Canadian securities
regulators.
About H&R REIT
H&R REIT is one of Canada's
largest real estate investment trusts with total assets of
approximately $13.4 billion at
March 31, 2020. H&R REIT has
ownership interests in a North American portfolio of high quality
office, retail, industrial and residential properties comprising
over 40 million square feet.
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). These forward-looking
statements include, but are not limited to, H&R's plans,
objectives, expectations and intentions, including the date of
closing of the Offering, the filing of a prospectus supplement and
the intended use of proceeds. Such forward-looking statements
reflect H&R'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's
estimates and assumptions that are subject to risks and
uncertainties, including those discussed in H&R's materials
filed with the Canadian securities regulatory authorities from time
to time, which could cause the actual results and performance of
H&R to differ materially from the forward-looking statements
contained in this news release. Although the forward-looking
statements contained in this news release are based upon what
H&R 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, 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 is available at
http://www.hr-reit.com and on www.sedar.com.
SOURCE H&R Real Estate Investment Trust