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

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.)