TORONTO, June 15, 2020 /CNW/ - H&R Real Estate
Investment Trust ("H&R REIT" or "H&R") (TSX: HR.UN)
announced today that it completed its previously announced offering
of $400 million principal amount of
4.071% Series Q senior unsecured debentures due June 16, 2025 (the "Series Q Debentures"). The
Series Q Debentures were 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. The net proceeds from the offering of
the Series Q Debentures will be utilized by H&R REIT to repay
outstanding indebtedness and for general trust purposes.
Monthly Distribution Declared
H&R today declared a distribution for the month of June
scheduled as follows:
|
Distribution/Unit
|
Annualized
|
Record date
|
Distribution
date
|
May 2020
|
$0.0575
|
$0.690
|
June 22,
2020
|
July 6, 2020
|
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 REIT's plans,
objectives, expectations and intentions, including the expected 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. 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.
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