February 26, 2026 — Leads & Copy — RioCan Real Estate Investment Trust (TSX: REI.UN) has announced an agreement to issue $200 million in Series AQ senior unsecured debentures.
The Debentures will be priced at $100 per $100 principal amount and will carry a coupon of 4.308% per annum. The debentures will mature on March 11, 2033.
The Trust plans to use the net proceeds from the debenture offering to repay existing indebtedness at or prior to maturity. Any remaining funds will be allocated for general business purposes.
The Debentures are being offered on an agency basis by a syndicate of agents co-led by TD Securities, Desjardins Capital Markets, RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets and Scotia Capital. The offering, subject to customary closing conditions, is expected to close on March 11, 2026.
Morningstar DBRS has affirmed RioCan’s Issuer Rating and Senior Unsecured Debentures credit rating at BBB, while revising the trend from Stable to Positive. A condition for the closing of the offering is that Morningstar DBRS must assign a rating of at least BBB with a Positive trend for the Debentures.
The offering is being conducted on a private placement basis across all provinces of Canada, with the Debentures to be issued in accordance with RioCan’s trust indenture dated March 8, 2005, as supplemented. These Debentures will hold equal rank with all other senior unsecured debt obligations of the Trust.
The offered Debentures have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption. This announcement does not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sale of these securities in any jurisdiction where such offer, solicitation, or sale would be unlawful.
RioCan is focused on meeting the shopping needs of Canadians through the ownership, management, and development of retail properties in densely populated communities. As of December 31, 2025, RioCan’s portfolio included 168 properties, encompassing approximately 31 million square feet of net leasable area (at RioCan’s interest).
Source: RioCan
