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Financings

First Capital REIT Announces Completion of C$250 Million Offering of Series G Senior Unsecured Debentures

By The Northwire Desk — AI Analysis Dec 08, 2025 · 08:16 FCR · 18.68 FIRST CAPITAL REALTY INC.
FCR · Price

Executive Summary

  • First Capital REIT closed a C$250 million private‑placement offering of Series G senior unsecured debentures.
  • The debentures were issued at $99.986 per $100 principal, carry 4.760% annual interest and mature on February 15 2035.
  • Net proceeds will be used to partially redeem the REIT’s outstanding C$300 million Series T senior unsecured debentures due May 6 2026.

Key Details

  • Offering size: Aggregate principal amount of C$250 million.
  • Pricing: $99.986 per $100.00 principal (approximately 99.986% of par).
  • Interest rate: 4.760% per annum, payable as specified in the debenture terms.
  • Maturity date: February 15 2035.
  • Rating: “BBB” with a “Positive” outlook from Morningstar DBRS.
  • Placement agents: Syndicate co‑led by Desjardins Capital Markets, RBC Capital Markets and TD Securities (agency basis).
  • Use of proceeds: To repay, in part, the early redemption of C$300 million aggregate principal amount of 3.604% Series T senior unsecured debentures (originally due May 6 2026), with redemption scheduled for December 31 2025.
  • Regulatory note: Securities not registered under U.S. securities laws; offering limited to jurisdictions where lawful.

Notable Quotes

(No executive quotes were included in the release.)

Read the original news release →

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