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H&R Closes $175 Million Senior Unsecured Debenture Financing


/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./

TORONTO, June 20, 2013 /CNW/ - H&R Real Estate Investment Trust ("H&R REIT") (TSX: HR.UN; HR.DB.C; HR.DB.D; HR.DB.E; HR.DB.H) announced today that it closed its previously announced offering of $175 million principal amount of 3.344% Series G Senior Debentures due June 20, 2018 (the "Debentures"). 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.

About H&R REIT

H&R REIT is an open-ended real estate investment trust, which owns a North American portfolio of 40 office, 112 industrial and 163 retail properties comprising over 53 million square feet and 3 development projects, with a fair value of approximately $13 billion. The foundation of H&R's success since inception in 1996 has been a disciplined strategy that leads to consistent and profitable growth. H&R REIT lease its properties to long-term creditworthy tenants and strives to match those leases with primarily long-term, fixed-rate financing.

Forward-looking Statements

Certain statements in this news release contain forward-looking information within the meaning of applicable securities laws (also known as forward-looking statements), including, in particular, H&R REIT's expectations regarding the use of proceeds of the offering. Such forward-looking statements reflect H&R REIT's current beliefs and are based on information currently available to management. These statements are not guarantees of future performance and are based on H&R REIT's estimates and assumptions that are subject to risks and uncertainties, including those discussed in H&R REIT's materials filed with the Canadian securities regulatory authorities from time to time, which could cause the actual results and performance of H&R REIT to differ materially from the forward-looking statements contained in this news release. Those risks and uncertainties include, among other things, risks related to: prices and market value of securities of H&R REIT; availability of cash for distributions; restrictions pursuant to the terms of indebtedness; liquidity; credit risk and tenant concentration; interest rate and other debt related risk; tax risk; ability to access capital markets; dilution; lease rollover risk; construction risks; currency risk; unitholder liability; co-ownership interest in properties; competition for real property investments; environmental matters; reliance on one corporation for management of substantially all H&R REIT's properties; and changes in legislation and indebtedness of H&R REIT. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking statements include that the general economy is stable; local real estate conditions are stable; interest rates are relatively stable; and equity and debt markets continue to provide access to capital. H&R REIT cautions that this list of factors is not exhaustive. Although the forward-looking statements contained in this news release are based upon what H&R REIT believes are reasonable assumptions, there can be no assurance that actual results will be consistent with these forward-looking statements. All forward-looking statements in this news release are qualified by these cautionary statements. These forward-looking statements are made as of today and H&R REIT, except as required by applicable law, assumes no obligation to update or revise them to reflect new information or the occurrence of future events or circumstances.

Larry Froom, Chief Financial Officer, H&R REIT (416) 635-7520, or e-mail info@hr-reit.com

SOURCE: H&R Real Estate Investment Trust

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/June2013/20/c9838.html

CO: H&R Real Estate Investment Trust ST: Ontario NI: REL

-0- Jun/20/2013 12:45 GMT

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