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Financings

First Capital closes $250-million debenture offering

By The Northwire Desk — AI Analysis Dec 08, 2025 · 19:57 FCR · 18.84 First Capital Real Estate Investment Trust
FCR · Price

Executive Summary

  • First Capital Real Estate Investment Trust has closed a C$250 million private placement offering of Series G senior unsecured debentures.
  • The debentures carry a 4.760% annual interest rate, are rated BBB with a positive outlook by Morningstar DBRS, and mature on February 15, 2035.
  • Net proceeds will be used to partially repay the early redemption of the REIT's $300 million Series T senior unsecured debentures due May 6, 2026.

Key Details

  • Transaction Size: C$250 million aggregate principal amount.
  • Instrument: Series G senior unsecured debentures.
  • Issuance Price: $99.986 per $100 principal amount.
  • Interest Rate: 4.760% per annum.
  • Maturity Date: February 15, 2035.
  • Credit Rating: BBB with a positive rating outlook by Morningstar DBRS.
  • Underwriters/Agents: Syndicate co-led by Desjardins Capital Markets, RBC Capital Markets, and TD Securities.
  • Use of Proceeds: To repay, in part, the early redemption of the REIT's $300 million aggregate principal amount of outstanding co-issued 3.604% Series T senior unsecured debentures, due May 6, 2026, on December 31, 2025.
Read the original news release →

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