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TORONTO, Nov. 7, 2016 /CNW/ - H&R Real Estate Investment Trust ("H&R REIT") (TSX: HR.UN; HR.DB.D; HR.DB.E; HR.DB.H) announced today that it completed its previously announced offering of $200 million principal amount of 2.923% Series L senior unsecured debentures due May 6, 2022 (the "Series L Debentures"). H&R REIT had previously agreed to sell the Series L Debentures to a syndicate of underwriters co-led by BMO Capital Markets, CIBC Capital Markets, Scotiabank and TD Securities, on a bought deal basis. The net proceeds from the offering of the Series L Debentures will be utilized by H&R REIT to repay outstanding indebtedness and for general trust purposes.
About H&R REIT
H&R REIT is Canada's largest diversified real estate investment trust with total assets of approximately $14.5 billion as at June 30, 2016. H&R REIT is a fully internalized real estate investment trust and has ownership interests in a North American portfolio of high quality office, retail, industrial and residential properties comprising over 46 million square feet.
Certain statements in this news release contain forward-looking information within the meaning of applicable securities laws (also known as forward-looking statements). These forward-looking statements include, but are not limited to H&R REIT's plans, objectives, expectations and intentions, including the expected use of proceeds of the offering. Such forward-looking statements reflect H&R REIT's current beliefs and are based on information currently available to management. These statements are not guarantees of future performance and are based on H&R REIT's estimates and assumptions that are subject to risks and uncertainties, including those discussed in H&R REIT's materials filed with the Canadian securities regulatory authorities from time to time, which could cause the actual results and performance of H&R REIT to differ materially from the forward-looking statements contained in this news release. Although the forward-looking statements contained in this news release are based upon what H&R REIT believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by these cautionary statements. These forward-looking statements are made as of today and H&R REIT, except as required by applicable law, assumes no obligation to update or revise them to reflect new information or the occurrence of future events or circumstances.
SOURCE H&R Real Estate Investment Trust
For further information: Larry Froom, Chief Financial Officer, H&R REIT, (416) 635-7520, or e-mail [email protected]