Cominar prices offering of $200 million of 4.23% Series 2 senior
unsecured debentures due December 4, 2019
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE U.S.
QUÉBEC CITY, Nov. 29,
2012 /CNW Telbec/ - Cominar Real Estate Investment Trust
("Cominar") (TSX: CUF.UN) announced today that it has priced
an offering of $200 million principal
amount of 4.23% Series 2 senior unsecured debentures due
December 4, 2019 (the
"Debentures"). The offering of the Debentures is expected to
close on or about December 4,
2012.
Cominar intends to use the net proceeds of the
offering of approximately $199.3
million to repay amounts outstanding under its credit
facilities, thus replacing short-term indebtedness with longer term
debt.
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 November
29, 2012
Cominar 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 482
high-quality properties, consisting of 122 office, 158 retail and
202 industrial and mixed-use buildings that cover a total area of
35 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.
SOURCE COMINAR REAL ESTATE INVESTMENT TRUST