/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./
TORONTO,
April 5, 2012 /PRNewswire/ - H&R
Real Estate Investment Trust ("H&R REIT") (TSX: HR.UN; HR.DB;
HR.DB.B; HR.DB.C; HR.DB.D; HR.DB.E) announced today that it closed
its previously announced offering of $175
million principal amount of 4.45% Series F Senior Debentures
due March 2, 2020 (the "Debentures").
H&R REIT had previously agreed to sell the Debentures to a
syndicate of underwriters co-led by RBC Capital Markets and CIBC,
on a bought deal basis. The net proceeds from the offering of the
Debentures will be utilized by H&R REIT to repay outstanding
indebtedness incurred under existing credit facilities thereby
enabling H&R REIT to have greater financial capacity to pursue
future acquisitions and developments, and otherwise for general
trust purposes.
Forward-looking Statements
Certain statements in this news release contain
forward-looking information within the meaning of applicable
securities laws (also known as forward-looking statements).
Such forward-looking statements reflect H&R REIT's current
beliefs and are based on information currently available to
management. These statements are not guarantees of future
performance and are based on H&R REIT's estimates and
assumptions that are subject to risks and uncertainties, including
those discussed in H&R REIT's materials filed with the Canadian
securities regulatory authorities from time to time, which could
cause the actual results and performance of H&R REIT to differ
materially from the forward-looking statements contained in this
news release. Those risks and uncertainties include, among other
things, risks related to: the business of H&R REIT (real
property ownership; credit risk and tenant concentration; financing
credit risk; interest rate and other debt-related risks;
construction; liquidity; development of the Bow; lease rollovers;
currency; environmental matters; co-ownership interest in
properties; influence of the property manager over H&R REIT;
failure to complete acquisitions; competition for real property
investments; dependence on key personnel; and potential conflicts
of interest) and securities of H&R REIT (prices of H&R REIT
securities; availability of cash for distributions; credit ratings;
ability to access capital markets; tax; dilution; Unitholder
liability; the right to redeem units; uncoupling of stapled units;
investment eligibility of stapled units; debentures issued by
H&R REIT; and statutory remedies available to unitholders).
Material factors or assumptions that were applied in drawing a
conclusion or making an estimate set out in the forward-looking
statements include that the general economy is stable; local real
estate conditions are stable; interest rates are relatively stable;
and equity and debt markets continue to provide access to capital.
H&R REIT cautions that this list of factors is not exhaustive.
Although the forward-looking statements contained in this news
release are based upon what H&R REIT believes are reasonable
assumptions, there can be no assurance that actual results will be
consistent with these forward-looking statements. All
forward-looking statements in this news release are qualified by
these cautionary statements. These forward-looking statements are
made as of today and H&R REIT, except as required by applicable
law, assumes no obligation to update or revise them to reflect new
information or the occurrence of future events or
circumstances.
SOURCE H&R Real Estate Investment Trust