Cominar Real Estate Investment Trust Closes $350 Million Unsecured Revolving Credit Facility

 Cominar Real Estate Investment Trust Closes $350 Million Unsecured Revolving  Credit Facility  QUÉBEC CITY, Aug. 6, 2014 /CNW Telbec/ - Cominar Real Estate Investment Trust  ("Cominar") (TSX: CUF.UN) announced today that it has closed a $350 million  three-year senior unsecured credit facility with National Bank of Canada  serving as lead arranger and administrative agent, and a syndicate of lenders  comprised of National Bank of Canada, Bank of Montreal, Caisse Centrale  Desjardins, Bank of Nova Scotia, Royal Bank of Canada, TD Bank, ATB Financial  and Canadian Western Bank. Borrowings under this new facility may be increased  up to $550 million, subject to lenders' consent. This new facility replaces  Cominar's prior $300 million secured credit facility and provides borrowing  availability based, among other things, on Cominar maintaining unencumbered  aggregate assets in an amount of not less than 130% of the aggregate principal  amount of its senior unsecured indebtedness outstanding. Cominar's  unencumbered aggregate assets currently stand at $2.3 billion representing  160% of aggregate principal amount of senior unsecured indebtedness  outstanding.  Borrowings under the new facility are priced off a ratings grid and Cominar  will benefit from a reduction of 30 basis points compared to its prior secured  credit facility. Borrowings under the new facility rank pari passu with  Cominar's senior unsecured debentures.  "We are pleased to complete this $350 million senior unsecured credit  facility; it is an important part of our overall financing strategy  emphasizing financial flexibility and increasing use of unsecured debt. We  will also be introducing a similar covenant of aggregate unencumbered assets  to aggregate senior unsecured debt of 130% for the benefit of all holders of  Cominar's existing and future senior unsecured debentures," stated Michel  Dallaire, President and CEO of Cominar.  PROFILE as at August 6, 2014  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. The REIT owns a real estate portfolio of 526 properties  in three different market segments, that is, office properties, retail  properties and industrial and mixed-use properties. Cominar's portfolio totals  39.5 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 through  proactive management and the expansion of its portfolio.  Cominar offers unitholders the opportunity to participate in its Unitholder  Distribution Reinvestment Plan, which allows them to receive their monthly  cash distributions as additional Cominar units. Participants will be entitled  to receive an additional distribution equal to 5% of the distributions  reinvested, which will be reinvested in additional units. For more information  and to obtain a participation form, please visit Cominar's website at  www.cominar.com.  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.    SOURCE  COMINAR REAL ESTATE INVESTMENT TRUST  Michel Dallaire, Eng., President and CEO, Sylvain Cossette, Executive  Vice-President and COO, Gilles Hamel, CPA, CA, Executive Vice-President and  CFO, Tel: (418) 681-8151, michel.dallaire@cominar.com,  sylvain.cossette@cominar.com, gilles.hamel@cominar.com  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/August2014/06/c2635.html  CO: COMINAR REAL ESTATE INVESTMENT TRUST ST: Quebec NI: REL FIN  
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