/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
TORONTO, Nov. 17,
2023 /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
I senior unsecured debentures with a 4.6-year term and a coupon of
5.828% per annum (the "Series I Debentures"). CT REIT
intends to use the net proceeds of the Debenture Offering for the
repayment of short term indebtedness, and to retain the balance of
the proceeds for general business purposes.
The Series I Debentures have been rated "BBB" by S&P Global
Ratings and "BBB" with a stable trend by DBRS Morningstar. The
Series I Debentures are direct senior unsecured obligations of CT
REIT.
The Debenture Offering was led by RBC Capital Markets, TD
Securities Inc. and CIBC Capital Markets. The Series I 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 I 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
primarily in Canada. Its portfolio
is comprised of over 370 properties totaling more than 30 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.
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 2022 and Section 12.0 "Enterprise Risk
Management" and 14.0 "Forward- looking Information" in CT REIT's
Management's Discussion and Analysis for fiscal 2022, both of which
are available on CT REIT's website at www.ctreit.com and on SEDAR+
at www.sedarplus.ca. 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)