Crombie REIT announces $175 million notes offering

STELLARTON, NS, Oct. 24, 2013 /CNW/ - Crombie Real Estate Investment Trust 
(TSX: CRR.UN) announced today that it has entered into an agency agreement 
with a syndicate of agents, co-led by Scotia Capital Inc., BMO Nesbitt Burns 
Inc., CIBC World Markets Inc. and including RBC Dominion Securities Inc. and 
TD Securities Inc., to sell on a private placement "best efforts" agency basis 
$175 million aggregate principal amount of 3.986 percent Series A Notes 
(senior unsecured) with a five-year term. The offering is expected to close on 
or about October 31, 2013 and is subject to customary closing conditions, 
including receipt of necessary consents and approvals and the Series A Notes 
receiving a rating of at least BBB (low) with a stable trend from DBRS. 
Upon completion of the offering, the net proceeds from the sale of the Series 
A Notes will be held in escrow by an escrow agent pending the satisfaction of 
the conditions to closing, among other things, in connection with Crombie's 
previously announced acquisition agreement to purchase a portfolio of retail 
properties from a wholly-owned subsidiary of Sobeys Inc.. Upon release from 
escrow, Crombie will use the net proceeds from the offering to, directly or 
indirectly, partially fund the acquisition. If the escrow release conditions 
are not satisfied on or before March 12, 2014 or if the acquisition has been 
terminated, the Series A Notes will be subject to a special mandatory 
redemption. The redemption price for any special mandatory redemption would be 
100 percent of the aggregate principal amount of the Series A Notes, together 
with accrued and unpaid interest from the date of settlement up to but not 
including the date of the special mandatory redemption. 
The Series A Notes will be sold in Canada on a private placement basis 
pursuant to certain prospectus exemptions. The offer and sale of the Series A 
Notes will not be registered under the United States Securities Act of 1933, 
as amended (the "Securities Act") or any state securities laws, and the Series 
A Notes may not be offered or sold in the United States or to, or for the 
account or benefit of, U.S. persons, absent registration or an applicable 
exemption from the registration requirements of the Securities Act and 
applicable state securities laws. 
This news release shall not constitute an offer to sell or the solicitation of 
an offer to buy, nor shall there be any offer, solicitation or sale of the 
securities in any state in which such offer, solicitation or sale would be 
About Crombie 
Crombie Real Estate Investment Trust is an unincorporated, open-ended real 
estate investment trust established under, and governed by, the laws of the 
Province of Ontario. The trust invests in income-producing retail, office and 
mixed-use properties in Canada, with a future growth strategy focused 
primarily on the acquisition of retail properties. Crombie currently owns a 
portfolio of 180 commercial properties in nine provinces, comprising 
approximately 14.6 million square feet of gross leasable area. More 
information about Crombie can be found at 
This news release may contain forward looking statements that reflect the 
current expectations of management of Crombie about Crombie's future results, 
performance, achievements, prospects and opportunities. Wherever possible, 
words such as "continue", "may", "will", "estimate", "anticipate", "believe", 
"expect", "intend" and similar expressions have been used to identify these 
forward looking statements. These statements reflect current beliefs and are 
based on information currently available to management of Crombie, and 
include, without limitation, statements regarding the expected amount and 
timing of the offering which remains subject to the sale by the agents and may 
be impacted by market conditions. There is no assurance that the offering 
will be completed. 
Readers are cautioned that such forward-looking statements are subject to 
certain risks and uncertainties that could cause actual results to differ 
materially from these statements. Crombie can give no assurance that actual 
results will be consistent with these forward-looking statements. A number of 
factors, including those discussed in the 2012 annual Management Discussion 
and Analysis under "Risk Management", could cause actual results, performance, 
achievements, prospects or opportunities to differ materially from the results 
discussed or implied in the forward-looking statements. These factors should 
be considered carefully and a reader should not place undue reliance on the 
forward looking statements. There can be no assurance that the expectations of 
management of Crombie will prove to be correct. 
Additional information relating to Crombie can be found on Crombie's web site 
at or on the SEDAR web site for Canadian regulatory 
filings at

Mr. Glenn Hynes, FCA Chief Financial Officer and Secretary Crombie REIT (902) 
To view this news release in HTML formatting, please use the following URL: 
CO: Crombie REIT
ST: Ontario
-0- Oct/24/2013 22:49 GMT
Press spacebar to pause and continue. Press esc to stop.