DBRS Rates First Capital Realty’s Additional $50 Million Series K Senior Unsecured Debentures at BBB

DBRS has today assigned a rating of BBB, with a Stable trend, to an additional $50 million of 4.95% Series K senior unsecured debentures due November 30, 2018 (the Bonds), issued by First Capital Realty Inc. (First Capital). An aggregate of $100 million of Series K Bonds will be outstanding after giving effect to this offering.

The Bonds are direct senior unsecured obligations of First Capital and rank pari passu with all other unsecured and unsubordinated indebtedness of First Capital. The proceeds will be used to fund development and redevelopment activities and acquisitions and for general corporate purposes.

Note:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Real Estate, which can be found on our website under Methodologies.