By Cristal Cody
Eureka Springs, Ark., April 26 – First Capital Realty Inc. sold C$150 million of 3.604% 10-year senior debentures at par on Tuesday, according to the company and a market source.
The series T debentures (Baa2//DBRS: BBB) priced with a spread of 204.5 basis points over the Government of Canada benchmark.
RBC Capital Markets LLC and TD Securities Inc. are the bookrunners.
The proceeds of the offering will be used to repay amounts outstanding on the company’s senior revolving credit facility and for general corporate purposes.
Toronto-based First Capital Realty owns, develops and manages grocery-anchored urban properties.
| Issuer: | First Capital Realty Inc.
|
| Amount: | C$150 million
|
| Maturity: | May 6, 2026
|
| Securities: | Senior debentures
|
| Bookrunners: | RBC Capital Markets LLC, TD Securities Inc.
|
| Coupon: | 3.604%
|
| Price: | Par
|
| Yield: | 3.604%
|
| Spread: | 204.5 bps over Government of Canada benchmark
|
| Pricing date: | April 26
|
| Settlement date: | May 6
|
| Ratings: | Moody’s: Baa2
|
| DBRS: BBB
|
| Distribution: | Canada
|
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