/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
QUÉBEC CITY, March 4, 2014 /CNW Telbec/ - Cominar Real Estate Investment
Trust ("Cominar") (TSX: CUF.UN) announced today that it priced a re-opening of its
4.941% Series 4 senior unsecured debentures due July 27, 2020 in the
amount of $100 million (the "Debentures"). The Debentures are being offered at a price of $1,028.41 per $1,000
principal amount of Debentures, plus accrued and unpaid interest for
the period from and including January 27, 2014 to, but excluding, the
date of the closing of this offering. The effective yield of the
Debentures (if held to maturity) will be 4.425% per annum. The offering
of the Debentures is expected to close on or about March 7, 2014.
Cominar intends to entirely use the net proceeds of the offering of
approximately $102.2 million (after deducting the estimated expenses of
the offering and the agents' fee) to repay amounts outstanding under
its credit facility.
The Debentures will be publicly offered in Canada, under Cominar's
previously filed base shelf prospectus (the "Prospectus"), pursuant to an Agency Agreement with National Bank Financial Inc.
and BMO Capital Markets, as co-lead agents, along with a syndicate that
also includes RBC Dominion Securities Inc., Desjardins Securities Inc.,
CIBC World Markets Inc., Scotia Capital Inc. and TD Securities Inc.
Cominar will also file with applicable securities regulators in each of
the provinces and territories of Canada a prospectus supplement to the
Prospectus (the "Prospectus Supplement") relating to the offering of the Debentures. Copies of the Prospectus
and the Prospectus Supplement will be available on the Internet at
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the Debentures in any jurisdiction.
The Debentures being offered have not been approved or disapproved by
any regulatory authority nor has any such authority passed upon the
accuracy or adequacy of the Prospectus or the Prospectus Supplement.
The Debentures have not been and will not be registered under the United States Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or
indirectly within the United States, its possessions and other areas subject to its jurisdiction or
to, or for the account or for the benefit of a U.S. person, except pursuant to applicable exemptions from
the registration requirements.
PROFILE as at March 4, 2014
Cominar is the third largest diversified real estate investment trust in
Canada and currently remains the largest commercial property owner in
the Province of Québec. Cominar owns a real estate portfolio of 513
properties in three different market segments, that is, office
properties, retail properties and industrial and mixed-use properties.
Cominar's portfolio totals 38.4 million square feet spread out across
Québec, Ontario, the Atlantic Provinces and Western Canada. Cominar's
objectives are to pay growing cash distributions to unitholders and to
maximize unitholder value through proactive management and the
expansion of its portfolio.
This press release may contain forward-looking statements with respect
to Cominar and its operations, strategy, financial performance and
financial condition. These statements generally can be identified by
the use of forward-looking words such as "may", "will", "expect",
"estimate", "anticipate", "intend", "believe" or "continue" or the
negative thereof or similar variations. The actual results and
performance of Cominar discussed herein could differ materially from
those expressed or implied by such statements. Such statements are
qualified in their entirety by the inherent risks and uncertainties
surrounding future expectations. Some important factors that could
cause actual results to differ materially from expectations include,
among other things, general economic and market factors, competition,
changes in government regulation and the factors described under "Risk
Factors" in the Annual Information Form of Cominar. The cautionary
statements qualify all forward-looking statements attributable to
Cominar and persons acting on its behalf. Unless otherwise stated, all
forward-looking statements speak only as of the date of this press
SOURCE: COMINAR REAL ESTATE INVESTMENT TRUST
For further information:
Mr. Michel Dallaire, P.Eng.
President and Chief Executive Officer, Cominar Real Estate Investment Trust
Mr. Sylvain Cossette
Executive Vice President and Chief Operating Officer, Cominar Real Estate Investment Trust
Mr. Gilles Hamel , CPA, CA
Vice President, Corporate Finance and Administration, Cominar Real Estate Investment Trust