NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE U.S.
QUÉBEC CITY, QC, July 25,
2013 /CNW Telbec/ - Cominar Real Estate Investment Trust
("Cominar") (TSX: CUF.UN) announces today that it has closed
the previously announced public offering of its 4.941% Series 4
senior unsecured debentures due July 27,
2020 in the principal amount of $100 million (the "Debentures"). The
Debentures were offered at a price of $1,000 per $1,000
principal amount of 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 RBC Dominion Securities Inc., Desjardins Securities Inc.,
CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc.,
HSBC Securities (Canada) Inc. and
Macquarie Capital Markets Canada Ltd., for total net proceeds to
Cominar of approximately $99.4
million after deducting the agents' fee and the expenses of
the offering. Cominar intends to use the net proceeds of the
offering to repay amounts outstanding under its credit facility and
for general trust purposes, thus replacing shorter-term debt with
longer-term debt without increasing its aggregate indebtedness.
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 July 25,
2013
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 499 properties in three
different market segments, that is, office buildings, retail
buildings and industrial and mixed-use buildings. Cominar's
portfolio totals 36.9 million square feet spread out across 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 integrated, 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