On October 10, 2013, Cominar Real Estate Investment Trust completed the offering of its Series 5 floating rate senior unsecured debentures due October 9, 2015 in the principal amount of $250 million. Cominar intends to use the net proceeds of the offering to repay amounts outstanding under its credit facility and for general trust purposes.
The debentures were sold by a syndicate of agents co-led by National Bank Financial Inc. and BMO Nesbitt Burns Inc., including RBC Dominion Securities Inc., Desjardins Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc. and Macquarie Capital Markets Canada Ltd.
The syndicate of agents was represented by a team from Lavery consisting of Marc Rochefort, Michel Servant, Guillaume Lavoie and Maxime Bergeron (corporate and securities), and Philip Nolan (tax).
Cominar is the third largest diversified real estate investment trust in Canada and currently remains the largest commercial property owner in the Province of Quebec.