/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE U.S./
QUÉBEC CITY, March 4,
2014 /CNW Telbec/ - Cominar Real Estate Investment Trust
("Cominar") (TSX: CUF.UN) announced today that it priced a
re-opening of its 4.941% Series 4 senior unsecured debentures due
July 27, 2020 in the amount of
$100 million (the
"Debentures"). The Debentures are being offered at a price
of $1,028.41 per $1,000 principal amount of Debentures, plus
accrued and unpaid interest for the period from and including
January 27, 2014 to, but excluding,
the date of the closing of this offering. The effective yield of
the Debentures (if held to maturity) will be 4.425% per annum. The
offering of the Debentures is expected to close on or about
March 7, 2014.
Cominar intends to entirely use the net proceeds
of the offering of approximately $102.2
million (after deducting the estimated expenses of the
offering and the agents' fee) to repay amounts outstanding under
its credit facility.
The Debentures will be publicly offered in
Canada, under Cominar's previously
filed base shelf prospectus (the "Prospectus"), pursuant to
an Agency Agreement with National Bank Financial Inc. and BMO
Capital Markets, as co-lead agents, along with a syndicate that
also includes RBC Dominion Securities Inc., Desjardins Securities
Inc., CIBC World Markets Inc., Scotia Capital Inc. and TD
Securities Inc. Cominar will also file with applicable securities
regulators in each of the provinces and territories of Canada a prospectus supplement to the
Prospectus (the "Prospectus Supplement")
relating to the offering of the Debentures. Copies of the
Prospectus and the Prospectus Supplement will be available on the
Internet at www.sedar.com.
This news release does not constitute an offer
to sell or the solicitation of an offer to buy the Debentures in
any jurisdiction. The Debentures being offered have not been
approved or disapproved by any regulatory authority nor has any
such authority passed upon the accuracy or adequacy of the
Prospectus or the Prospectus Supplement.
The Debentures have not been and will not be
registered under the United States Securities Act of 1933
and accordingly will not be offered, sold or delivered, directly or
indirectly within the United States, its possessions and other
areas subject to its jurisdiction or to, or for the account or for
the benefit of a U.S. person, except pursuant to applicable
exemptions from the registration requirements.
PROFILE as at March 4,
2014
Cominar is the third largest diversified real
estate investment trust in Canada
and currently remains the largest commercial property owner in the
Province of Québec. Cominar owns a real estate portfolio of 513
properties in three different market segments, that is, office
properties, retail properties and industrial and mixed-use
properties. Cominar's portfolio totals 38.4 million square feet
spread out across Québec, Ontario,
the Atlantic Provinces and Western
Canada. Cominar's objectives are to pay growing cash
distributions to unitholders and to maximize unitholder value
through proactive management and the expansion of its
portfolio.
Forward-Looking Statements
This press release may contain forward-looking
statements with respect to Cominar and its operations, strategy,
financial performance and financial condition. These statements
generally can be identified by the use of forward-looking words
such as "may", "will", "expect", "estimate", "anticipate",
"intend", "believe" or "continue" or the negative thereof or
similar variations. The actual results and performance of Cominar
discussed herein could differ materially from those expressed or
implied by such statements. Such statements are qualified in their
entirety by the inherent risks and uncertainties surrounding
future expectations. Some important factors that could cause actual
results to differ materially from expectations include, among other
things, general economic and market factors, competition, changes
in government regulation and the factors described under "Risk
Factors" in the Annual Information Form of Cominar. The
cautionary statements qualify all forward-looking statements
attributable to Cominar and persons acting on its behalf. Unless
otherwise stated, all forward-looking statements speak only as of
the date of this press release.
SOURCE COMINAR REAL ESTATE INVESTMENT TRUST