Cominar announces closing of $200 million of 4.23% Series 2 senior
unsecured debentures
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE U.S./
QUEBEC CITY,
Dec. 4, 2012 /CNW Telbec/ - Cominar
Real Estate Investment Trust ("Cominar") (TSX: CUF.UN)
announces today that it has closed its previously announced public
offering of $200 million aggregate
principal amount of 4.23% Series 2 senior unsecured debentures due
December 4, 2019 (the
"Debentures"). The Debentures were sold 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. for total net proceeds to Cominar of
approximately $199.0 million, after
deducting the agents' fee and the expenses of the offering. The
proceeds from the sale of the Debentures will be used to repay
amounts outstanding under its credit facilities, thus replacing
short-term indebtedness with longer term debt.
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 December 4,
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. Cominar 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