H&R Closes $175 Million Senior Unsecured Debenture Financing

H&R Real Estate Investment Trust (H&R REIT) announced that it closed its previously announced offering of $175 million principal amount of 3.344% Series G Senior Debentures due June 20, 2018. H&R REIT had previously agreed to sell the Debentures to a syndicate of underwriters co-led by RBC Capital Markets and CIBC, on a bought deal basis. The net proceeds from the offering of the Debentures will be utilized by H&R REIT to repay outstanding indebtedness incurred under existing credit facilities thereby enabling H&R REIT to have greater financial capacity to pursue future acquisitions and developments, and otherwise for general trust purposes.

on June 20, 2013