TORONTO, ONTARIO--(Marketwire - Jan. 8, 2008) - RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced the repayment of its January 4, 2008 3.85% $110 million Series E debentures payable. A new $110 million secured revolving bank facility was arranged by RioCan to repay the debentures.
RioCan has $880 million of debentures outstanding, of which, the next debenture matures on September 21, 2009. Its current outstanding debentures payable bear interest at a weighted average rate of 5.22% per annum.
RioCan is Canada's largest real estate investment trust with a total market capitalization of approximately $7.4 billion. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 208 retail properties, including 10 under development, containing an aggregate of over 53 million square feet. For further information, please refer to RioCan's website at www.riocan.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
RioCan Real Estate Investment Trust
Edward Sonshine, Q.C.
President & CEO