First Capital Realty announces completion of its $100 million Series F senior unsecured debenture issue



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    TORONTO, April 5 /CNW/ - First Capital Realty Inc. ("First Capital
Realty") (TSX: FCR) Canada's leading owner, developer and operator of
supermarket-anchored neighbourhood and community shopping centres, located
predominantly in growing metropolitan areas, announced today that it has
completed its previously announced sale of $100 million principal amount of
5.32% Series F senior unsecured debentures maturing on October 30, 2014 (the
"Debentures"). The offering was underwritten by a syndicate led by RBC Capital
Markets and included BMO Nesbitt Burns Inc., CIBC World Markets Inc. and HSBC
Securities (Canada) Inc. Dominion Bond Rating Services has provided First
Capital Realty with a credit rating of BBB (low) with a stable trend relating
to the Debentures, and Moody's Investors Service has provided First Capital
Realty with a rating of Baa3 with a stable outlook relating to the Debentures.
    This offering was made under First Capital Realty's third amended and
restated base shelf prospectus dated October 12, 2006. The terms of the
offering are described in a prospectus supplement dated April 2, 2007 which
was filed with Canadian securities regulators.
    The net proceeds from this offering will be used to pay down amounts
owing on certain of First Capital Realty's revolving credit facilities, to
fund future acquisitions and development activities and for general corporate
purposes.

    ABOUT FIRST CAPITAL REALTY

    First Capital Realty is Canada's leading owner, developer and operator of
supermarket-anchored neighbourhood and community shopping centres, located
predominantly in growing metropolitan areas. The Company currently owns
interests in 160 properties, including 6 under development, with approximately
18.9 million square feet of gross leasable area. In addition, the Company owns
13.9 million shares of Equity One (approximately 19%), one of the largest
shopping centre REITS in the southern U.S., that trades on the New York Stock
Exchange under the ticker symbol EQY. Including its investments in Equity One,
the Company has interests in 333 properties totalling approximately
36.8 million square feet of gross leasable area.




For further information:

For further information: Dori J. Segal, President & C.E.O., or Karen H.
Weaver, C.F.O., First Capital Realty Inc., King Liberty Village, 85 Hanna
Avenue, Suite 400, Toronto, Ontario, Canada, M6K 3S3, Tel: (416) 504-4114,
Fax: (416) 941-1655, www.firstcapitalrealty.ca


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