DBRS Notes $30 Million Increase in H&R REIT’s BBB-Rated Issue of Sr Unsecured Debentures

DBRS notes that H&R Real Estate Investment Trust (H&R or the Trust) has announced a $30 million increase in its issue of 4.778% Series D senior unsecured debentures due July 27, 2016 (the Bonds). DBRS has assigned a rating of BBB, with a Stable trend, to the Bonds, which are now in the amount of $180 million.

The Bonds are direct senior unsecured obligations of H&R and rank pari passu with all other unsecured and unsubordinated indebtedness of the Trust. DBRS notes that the proceeds will be used to fund future property acquisitions, including to the extent necessary Atrium on Bay and for general Trust 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.