Cominar prices offering of $125 million of 4.274% Series 1 senior unsecured debentures due June 15, 2017
June 11 2012 - 12:24AM
PR Newswire (Canada)
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN
THE U.S. QUÉBEC CITY, June 12, 2012 /CNW Telbec/ - Cominar Real
Estate Investment Trust ("Cominar") announced today that it has
priced an offering of $125 million principal amount of 4.274%
Series 1 senior unsecured debentures due June 15, 2017 (the
"Debentures"). The offering of the Debentures is expected to close
on or about June 15, 2012. Cominar intends to use the net
proceeds of the offering of approximately $124.1 million to repay
indebtedness outstanding under its credit facilities and for
general trust purposes. 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.,
CIBC World Markets Inc., Scotia Capital Inc., RBC Dominion
Securities 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 June 12, 2012 Cominar Real
Estate Investment Trust is the third largest diversified real
estate investment trust in Canada and currently remains the largest
commercial property owner in the Province of Québec. The REIT owns
a real estate portfolio of 412 high-quality properties, consisting
of 82 office, 158 retail and 172 industrial and mixed-use buildings
that cover a total area of 30.6 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. Forward-Looking Statements 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
release. COMINAR REAL ESTATE INVESTMENT TRUST CONTACT: Mr. Michel
Dallaire, P.Eng.President and Chief Executive Officer, Cominar Real
Estate InvestmentTrust(418) 681-8151Mr. Michel BerthelotExecutive
Vice President and Chief Financial Officer, Cominar RealEstate
Investment Trust(418) 681-6300 ext. 2266
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