Calloway REIT completes C$100 million Series K senior unsecured debenture offering

Date Closed

October 16, 2013

Lead Office

Toronto

Value

100.00 Million CAD

On October 16, 2013, Calloway Real Estate Investment Trust announced that it completed its C$100 million principal amount issuance of Series K floating rate senior unsecured debentures. The debentures will bear interest at a rate of 3-Month CDOR plus 138 basis points, payable quarterly in arrears, and will mature on October 16, 2015.

Calloway intends to use the net proceeds to principally repay existing indebtedness, with the balance available for general trust purposes.

The debentures were offered through a syndicate of agents consisting of BMO Nesbitt Burns, CIBC, TD Securities and RBC Capital Markets.

Calloway Real Estate Investment Trust, headquartered in Vaughan, Ontario, is one of Canada's largest real estate investment trusts with total assets of approximately C$7 billion. Calloway owns and manages approximately 26 million square feet in 115 value oriented retail centres having the strongest national and regional retailers, as well as strong neighbourhood merchants.

McCarthy Tétrault represented the syndicate of agents.The team was led by Andrew Parker and Matthew Appleby.

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