/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
QUÉBEC CITY, Feb. 5, 2013 /CNW Telbec/ - Cominar Real Estate Investment
Trust ("Cominar") (TSX: CUF.UN) announced today that it priced a re-opening of its
4.23% Series 2 senior unsecured debentures due December 4, 2019 in the
amount of $100 million (the "Debentures"). The Debentures are being offered at a price of $991.88 per $1,000
principal amount of Debentures, plus accrued and unpaid interest for
the period from and including December 4, 2012 to, but excluding, the
date of the closing of this offering. The effective yield of the
Debentures (if held to maturity) will be 4.368% per annum. The offering
of the Debentures is expected to close on or about February 8, 2013.
Cominar intends to use the net proceeds of the offering of approximately
$98.6 million (after deducting the estimated expenses of the offering
and the agents' fee), to repay amounts outstanding under its credit
facility and for general trust purposes, thus replacing shorter-term
debt with longer-term debt at a favorable long-term interest rate
without increasing its aggregate indebtedness.
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 Desjardins Securities Inc., RBC Dominion Securities Inc.,
CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., HSBC
Securities (Canada) Inc., Canaccord Genuity Corp., Dundee Securities
Ltd. and Macquarie Capital Markets Canada Ltd. 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 www.sedar.com.
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 February 5, 2013
Cominar is the second 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 501
high-quality properties, consisting of 123 office, 158 retail and 220
industrial and mixed-use buildings that cover a total area of 36.7
million square feet in Québec, Ontario, the Atlantic Provinces and
Western Canada. Cominar's objectives are to pay growing cash
distributions to unitholders and to maximize unitholder value by way of
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. Michel Berthelot
Executive Vice President and Chief Financial Officer, Cominar Real Estate Investment Trust
(418) 681-6300 ext. 2266