Cominar to sell $100 million of Series 3 senior unsecured debentures due November 2, 2020 on a bought deal basis /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./ QUÉBEC CITY, April 29, 2013 /CNW Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX: CUF.UN) announced today that it has agreed to sell to a syndicate of underwriters, on a bought-deal basis, $100 million of 4.00% Series 3 senior unsecured debentures due November 2, 2020 (the "Debentures") at a price of $1,000 per $1,000 principal amount of Debentures. The offering of the Debentures is expected to close on or about May 2, 2013. Cominar intends to use the net proceeds of the offering of approximately $98.5 million (after deducting the estimated expenses of the offering and the underwriters' fee), to repay amounts outstanding under its credit facility and for general trust purposes, thus replacing shorter-term debt with longer-term debt at a favorable long-term interest rate without increasing its aggregate indebtedness. The Debentures will be publicly offered in Canada, under Cominar's previously filed base shelf prospectus (the "Prospectus"), pursuant to an Underwriting Agreement with National Bank Financial Inc. and BMO Capital Markets, as co-lead underwriters, along with a syndicate that also includes RBC Dominion Securities Inc., Desjardins Securities Inc., CIBC World Markets Inc., Scotia Capital Inc. and TD Securities Inc. 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 April 29, 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 500 high-quality properties, consisting of 123 office, 157 retail and 220 industrial and mixed-use buildings with a leasable area of approximately 37 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. Mr. Michel Dallaire, P.Eng. President and Chief Executive Officer, Cominar Real Estate Investment Trust (418) 681-8151 Mr. Michel Berthelot Executive Vice President and Chief Financial Officer, Cominar Real Estate Investment Trust (418) 681-6300 ext. 2266 SOURCE: COMINAR REAL ESTATE INVESTMENT TRUST To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/April2013/29/c9488.html CO: COMINAR REAL ESTATE INVESTMENT TRUST ST: Quebec NI: REL NEWSTK FIN -0- Apr/29/2013 18:07 GMT
Cominar to sell $100 million of Series 3 senior unsecured debentures due November 2, 2020 on a bought deal basis
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