TORONTO, Nov. 27, 2014 /CNW/ - First Capital Realty Inc. (TSX:FCR) (the "Company"), Canada's leading owner, developer and manager of well-located, high quality urban retail-centred properties, announced that it is providing notice today to holders of its outstanding 5.95% Series G senior unsecured debentures due June 1, 2015 (the "Debentures") in respect of the redemption in full of the Debentures. As of the date hereof, there is $125 million principal amount of Debentures outstanding. The Debentures will be redeemed in integral multiples of $1,000.
The Company has established December 29, 2014 as the redemption date and has fixed December 24, 2014 as the record date for this redemption. On the redemption date, the Debentures will be redeemed in accordance with their terms at a redemption price per $1,000 principal amount of the Debentures equal to $1,017.72 plus accrued and unpaid interest (to but excluding the redemption date) of $4.56 and will thereafter cease to be outstanding.
ABOUT FIRST CAPITAL REALTY (TSX: FCR)
First Capital Realty is Canada's leading owner, developer and manager of well-located, high quality urban retail-centered properties. The Company currently owns interests in 162 properties, including one ground-up development project underway, totalling approximately 24.5 million square feet of gross leasable area.
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 for the year ended December 31, 2013 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 Kay Brekken, Executive Vice President & CFO, First Capital Realty Inc., 85 Hanna Avenue, Suite 400, Toronto, Ontario, Canada M6K 3S3, Tel: (416) 504-4114, www.firstcapitalrealty.ca