Cominar Announces Offering of $250 M of Floating Rate Series 5 Senior Unsecured Debentures Due October 9, 2015

Cominar Real Estate Investment Trust (Cominar) announced an offering of $250 million principal amount of floating rate Series 5 senior unsecured 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.

on October 7, 2013