First Capital closes $250-million debenture offering

Mr. Neil Downey reports FIRST CAPITAL REIT ANNOUNCES COMPLETION OF C$250 MILLION OFFERING OF SERIES G SENIOR UNSECURED DEBENTURES First Capital Real Estate Investment Trust has closed its previously announced offering of $250-million aggregate principal amount of Series G senior unsecured debentures on a private placement basis. The debentures were offered on an agency basis by a syndicate of agents co-led by Desjardins Capital Markets, RBC Capital Markets and TD Securities. The debentures were issued at a price of $99.986 per $100 principal amount of debentures, bear interest at a rate of 4.760 per cent per annum and will mature on Feb. 15, 2035. The debentures are rated BBB with a positive rating outlook by Morningstar DBRS. The net proceeds of the offering will be used to repay, in part, the early redemption of the REIT's $300-million aggregate principal amount of outstanding co-issued 3.604 per cent Series T senior unsecured debentures, due May 6, 2026, on Dec. 31, 2025. About First Capital Real Estate Investment Trust First Capital owns and operates, acquires, and develops open-air grocery-anchored shopping centres in neighbourhoods with the strongest demographics in Canada. We seek Safe Harbor.