DBRS Rates Cominar REIT’s $100 Million Re-Opening of Series 4 Senior Unsecured Debentures at BBB (low), Stable

DBRS has today assigned a rating of BBB (low), with a Stable trend, to an additional $100 million of 4.941% Series 4 Senior Unsecured Debentures due July 27, 2020 (Series 4 Bonds), issued by Cominar Real Estate Investment Trust (Cominar). This issuance is a re-opening of this series of debentures. The original issuance of the Series 4 Bonds ($100 million) was rated BBB (low).

An aggregate of $200 million of Series 4 Bonds will be outstanding after giving effect to this offering. DBRS understands that the net proceeds will be used to repay amounts outstanding under Cominar’s credit facility, as well as for future acquisitions and general trust purposes. The Series 4 Bonds will rank equally and rateably with the existing Senior Unsecured Debentures.

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

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

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