TORONTO, Nov. 29, 2012 /CNW/ - First Capital Realty Inc. (TSX:FCR) (the "Company"), Canada's leading owner, developer and operator of supermarket and drugstore anchored neighbourhood and community shopping centres, located predominantly in growing urban markets, announced today that it has provided notice to holders of its outstanding 5.36% Series E senior unsecured debentures due January 31, 2014 (the "Debentures") in respect of the redemption of $44,135,000 principal amount of such Debentures. As of the date hereof, there is $98,078,000 principal amount of Debentures outstanding. The Debentures will be redeemed on a pro rata basis, such that each holder will have 45% of its Debentures redeemed. Upon the completion of this partial redemption, there will be $53,943,000 principal amount of Debentures remaining outstanding.
The Company has established December 31, 2012 as the redemption date. On the redemption date, the Debentures will be redeemed at a price of $1,042.69 for each $1,000 principal amount of Debentures outstanding, consisting of the Canada Yield Price (as defined in the trust Indenture pursuant to which the Debentures were issued) calculated on the date hereof, and the Debentures so redeemed will thereafter cease to be outstanding. In addition, accrued but unpaid interest will be paid on the Debentures so redeemed to but excluding the redemption date.
ABOUT FIRST CAPITAL REALTY (TSX:FCR)
First Capital Realty is Canada's leading owner, developer and operator of supermarket and drugstore anchored neighbourhood and community shopping centres, located predominantly in growing urban markets. The Company currently owns interests in 174 properties, including six under ground-up development, totalling approximately 24.4 million square feet of gross leasable area and four sites in the planning stage for future retail development.
Forward Looking Statements
This press release contains forward-looking statements and information within the meaning of applicable securities law. Forward-looking statements can be identified by the expressions "expects", "believes", "estimates", "will" and similar expressions. The forward-looking statements are not historical facts but reflect the Company's current expectations regarding future results or events and are based on information currently available to Management. Certain material factors and assumptions were applied in providing these forward-looking statements.
Management believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, Management can give no assurance that the actual results or developments will be consistent with these forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in First Capital Realty's Management's Discussion and Analysis in its 2011 Annual Report and under "Risk Factors" in its current Annual Information Form. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. First Capital Realty undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances except as required by applicable securities law.
All forward-looking statements in this press release are made as of the date hereof and are qualified by these cautionary statements.
SOURCE: First Capital Realty Inc.
For further information:
For further information regarding First Capital Realty:
Dori J. Segal, President & CEO, or
Karen H. Weaver, Executive Vice President & CFO
First Capital Realty Inc.
85 Hanna Avenue, Suite 400
Toronto, Ontario, Canada M6K 3S3
Tel: (416) 504-4114