First Capital REIT Announces Completion of C$300 Million Offering of Series C Senior Unsecured Debentures – Company Announcement

/NOT FOR DISTRIBUTION IN UNITED STATES OR OVER UNITED STATES WIRE SERVICES/

TORONTO
, June 12, 2024 /CNW/ – First Capital Real Estate Investment Trust (“First capital” or the “REIT”) (TSX: FCR.UN) announced today that it has closed its previously announced offering (the “Offering”) of 300 million Canadian dollars aggregate principal amount of the Series C Senior Unsecured Debentures (the “Debentures”) in a private placement.

The debentures were offered on behalf of a syndicate of agents co-led by RBC Capital Markets, Desjardins Capital Markets And TD Securities. The debentures were issued at par, bear interest at a rate of 5.455% per annum and will mature on June 12, 2032.

The debentures are rated “BBB (positive)” by Morningstar DBRS.

The net proceeds of the Offering will be used to repay existing debt.

The securities offered have not been registered in the WE Securities Act of 1933, as amended, and may not be offered or sold in United States in the absence of registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About First Capital REIT (TSX: FCR.UN)

First capital owns, operates and develops outdoor food centers in neighborhoods with the strongest demographics in the world. Canada.

Notice Regarding Forward-Looking Statements

This press release contains forward-looking statements and information within the meaning of applicable securities laws, including statements regarding the use of proceeds from the offering. These forward-looking statements are not historical facts but rather reflect First capital current expectations and are subject to risks and uncertainties that could cause the outcome to differ materially from current expectations. These risks and uncertainties include those discussed in Management of First Capital Discussion and analysis for the completed exercise December 31, 2023 and for the completed quarter March 31, 2024 and in its current annual information form. Readers should therefore not place undue reliance on these forward-looking statements. First capital undertakes no obligation, except as required by applicable securities laws, to publicly update or revise any such forward-looking statement, whether as a result of new information, future events or otherwise. All forward-looking statements contained in this press release are made as of the date hereof and are qualified by these cautionary statements.

www.fcr.ca

TSX: FCR.UN

SOURCE First Capital Real Estate Investment Trust