/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE U.S./
QUÉBEC CITY, Oct. 7,
2013 /CNW Telbec/ - Cominar Real Estate Investment Trust
("Cominar") (TSX: CUF.UN) announced today an offering of
$250 million principal amount of
floating rate Series 5 senior unsecured debentures (the
"Debentures"). The offering of Debentures is expected to
close on or about October 10, 2013.
The Debentures will be issued at par, bear interest at a rate equal
to the 3-month CDOR plus 205 basis points payable quarterly in
arrears, and will mature on October 9,
2015.
Cominar intends to use the net proceeds of the
offering of approximately $249.3
million to repay indebtedness outstanding under its credit
facilities and for general trust purposes.
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., TD Securities
Inc., HSBC Securities (Canada)
Inc. and Macquarie Capital Markets Canada Ltd. 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 October 7,
2013
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 493
properties in three different market segments, that is, office
buildings, retail buildings and industrial and mixed-use buildings.
Cominar's portfolio totals 36.8 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 by
way of integrated, 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