TORONTO, Dec. 2, 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 $250 million principal amount of
2.906% Series R senior unsecured debentures due June 2, 2026 (the "Series R Debentures"). H&R
REIT had previously agreed with a syndicate of agents co-led and
bookrun by Scotia Capital Inc. and CIBC World Markets Inc., and
including BMO Capital Markets, TD Securities Inc. and National Bank
Financial Inc. to sell the Series R Debentures on a private
placement "best efforts" agency basis. The Series R Debentures have
been issued for $100.00 per
$100.00 principal amount, carry a
coupon rate of 2.906% and will mature on June 2, 2026. The net proceeds of the offering
will be used for the repayment of outstanding indebtedness and for
general trust purposes.
About H&R REIT
H&R REIT is one of Canada's
largest real estate investment trusts with total assets of
approximately $13.3 billion at
September 30, 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 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