First Capital REIT Debuts C$300M Debenture Offering

First Capital Realty (TSE:FCR.UN) has released an update.

First Capital REIT has launched a C$300 million offering of Series B senior unsecured debentures with a 5.572% annual interest rate, maturing in 2031, and a closing expected on March 1, 2024. The debentures will rank equally with all other unsecured debt of the REIT and the proceeds will be used to repay existing debt. The offering is limited to certain Canadian provinces and will not be registered under the U.S. Securities Act.

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