/NOT FOR DISTRIBUTION IN THE UNITED
STATES OR OVER UNITED
STATES WIRE SERVICES/
QUÉBEC CITY, Dec. 3, 2014 /CNW
Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX:
CUF.UN) announced today an offering of $200
million principal amount of 4.25% Series 8 senior unsecured
debentures (the "Debentures"). The offering of Debentures is
expected to close on or about December 8,
2014. The Debentures will be issued at a price of
$1,000 per $1,000 principal amount of Debentures, bear
interest at a rate equal to 4.25% payable semi-annually in arrears,
and will mature on December 8, 2021.
Cominar intends to use the net proceeds of the offering of
approximately $199.0 million to pay
down debt outstanding under its unsecured non-revolving bridge
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 Desjardins Securities Inc., RBC Dominion Securities 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, as amended, and accordingly will not be offered,
sold or delivered, directly or indirectly, within the United States, its territories, 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 December 3, 2014
Cominar is the third largest diversified real estate investment
trust in Canada and remains the
largest commercial property owner in the Province of Québec.
Cominar currently owns a real estate portfolio of 563 properties in
three different market segments, that is, office properties, retail
properties and industrial and mixed-use properties. Cominar's
portfolio totals 45.4 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