/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
TORONTO, Feb. 3, 2022 /CNW/ - CT Real Estate Investment
Trust ("CT REIT") (TSX: CRT.UN) announced today that it has
completed its previously announced issuance, on a private placement
basis in certain of the provinces of Canada (the "Debenture
Offering"), of $250 million
aggregate principal amount of series H senior unsecured debentures
with a seven-year term and a coupon of 3.029% per annum (the
"Series H Debentures"). CT REIT intends to use the net
proceeds of the Debenture Offering to complete the previously
announced redemption of the entire outstanding $150 million aggregate principal amount of its
2.852% Series A Senior Unsecured Debentures due June 9, 2022 (the "Series A Debentures"),
to pay down certain amounts outstanding under its credit
facilities, and to retain the balance of the proceeds for general
business purposes.
The Series H Debentures have been rated "BBB" by S&P Global
Ratings and "BBB" with a "stable" trend by DBRS Limited. The Series
H Debentures are direct senior unsecured obligations of CT
REIT.
The Debenture Offering was led by RBC Capital Markets, BMO
Nesbitt Burns Inc. and CIBC World Markets Inc. The Series H
Debentures offered have not been registered under the United States Securities Act of
1933, as amended, and may not be offered or sold in
the United States absent
registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the Series H Debentures in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
About CT Real Estate Investment Trust
CT REIT is an unincorporated, closed-end real estate investment
trust formed to own income-producing commercial properties located
in Canada. Its portfolio is
comprised of over 350 properties totalling approximately 29 million
square feet of GLA, consisting primarily of net lease single-tenant
retail properties located across Canada. Canadian Tire Corporation, Limited is
CT REIT's most significant tenant. For more information, visit
www.ctreit.com.
Forward–Looking Statements
This press release contains forward-looking information within
the meaning of applicable securities legislation, which reflects CT
REIT's current expectations regarding future events, including but
not limited to the use of proceeds of the Debenture Offering,
including the redemption of the Series A Debentures.
Forward-looking information is based on a number of assumptions and
is subject to a number of risks and uncertainties, many of which
are beyond CT REIT's control, that could cause actual results and
events to differ materially from those that are disclosed in or
implied by such forward-looking information. Such risks and
uncertainties include, but are not limited to, the factors
discussed under Section 4 "Risk Factors" in CT REIT's Annual
Information Form for fiscal 2020 and Section 11 "Enterprise Risk
Management" in CT REIT's Management's Discussion and Analysis for
fiscal 2020, both of which are available on CT REIT's website at
www.ctreit.com and on SEDAR at www.sedar.com. CT REIT does not
undertake any obligation to update such forward-looking
information, whether as a result of new information, future events
or otherwise, except as expressly required by applicable law.
SOURCE CT Real Estate Investment Trust (CT REIT)