/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
BRAMPTON, ON, Feb. 6, 2014 /CNW/ - Choice Properties Real Estate
Investment Trust ("Choice Properties" or the "Trust") (TSX: CHP.UN)
announced today that it has completed its previously announced issuance
of $450 million aggregate principal amount of senior unsecured
debentures (the "Debentures") of the Trust (the "Debenture Offering").
The Debenture Offering was made under Choice Properties' short form base
shelf prospectus dated September 3, 2013. The terms of the Debenture
Offering are described in a prospectus supplement dated February 3,
2014, which was filed with securities regulators in each of the
provinces of Canada.
The Debenture Offering included $250 million principal amount of series
C senior unsecured debentures with a 7-year term and a coupon of 3.498%
per annum and $200 million principal amount of series D senior
unsecured debentures with a 10-year term and a coupon of 4.293% per
annum. DBRS Limited and Standard and Poor's Ratings Services have each
provided the Debentures with a credit rating of "BBB". The Debentures
rank equally with all other unsecured indebtedness of Choice Properties
that has not been subordinated.
The net proceeds of the Debenture Offering will be used by the Trust to
repay existing indebtedness and for general business purposes.
The Debenture Offering was sold on an agency basis co-led by CIBC, RBC
Capital Markets, TD Securities and BMO Capital Markets.
The Debentures offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in
the United States absent registration or an applicable exemption from
the registration requirements. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall there
be any sale of the Debentures in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About Choice Properties Real Estate Investment Trust
Choice Properties Real Estate Investment Trust is an owner, manager and
developer of well-located commercial real estate across Canada. Choice
Properties' portfolio spans approximately 36.2 million square feet of
gross leasable area and consists of 433 properties primarily focused on
supermarket-anchored shopping centres and stand-alone supermarkets.
Choice Properties' strategy is to create value by enhancing and
optimizing its portfolio through development, acquisitions and active
property management. Choice Properties' principal tenant is Loblaw
Companies Limited, Canada's largest food retailer. For more
information, visit Choice Properties' website at www.choicereit.ca and Choice Properties' issuer profile at www.sedar.com.
SOURCE: Choice Properties Real Estate Investment Trust
For further information:
Vice President, Investor Relations and
Financial Planning & Analysis
Choice Properties Real Estate Investment Trust
t (905) 861-2256