Choice Properties Real Estate Investment Trust Completes $450 million Issuance of Series C and Series D Senior Unsecured Debentures

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

BRAMPTON, ON, Feb. 6, 2014 /CNW/ - Choice Properties Real Estate Investment Trust ("Choice Properties" or the "Trust") (TSX: CHP.UN) announced today that it has completed its previously announced issuance of $450 million aggregate principal amount of senior unsecured debentures (the "Debentures") of the Trust (the "Debenture Offering").

The Debenture Offering was made under Choice Properties' short form base shelf prospectus dated September 3, 2013. The terms of the Debenture Offering are described in a prospectus supplement dated February 3, 2014, which was filed with securities regulators in each of the provinces of Canada.

The Debenture Offering included $250 million principal amount of series C senior unsecured debentures with a 7-year term and a coupon of 3.498% per annum and $200 million principal amount of series D senior unsecured debentures with a 10-year term and a coupon of 4.293% per annum.  DBRS Limited and Standard and Poor's Ratings Services have each provided the Debentures with a credit rating of "BBB". The Debentures rank equally with all other unsecured indebtedness of Choice Properties that has not been subordinated.

The net proceeds of the Debenture Offering will be used by the Trust to repay existing indebtedness and for general business purposes.

The Debenture Offering was sold on an agency basis co-led by CIBC, RBC Capital Markets, TD Securities and BMO Capital Markets.

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

About Choice Properties Real Estate Investment Trust
Choice Properties Real Estate Investment Trust is an owner, manager and developer of well-located commercial real estate across Canada. Choice Properties' portfolio spans approximately 36.2 million square feet of gross leasable area and consists of 433 properties primarily focused on supermarket-anchored shopping centres and stand-alone supermarkets. Choice Properties' strategy is to create value by enhancing and optimizing its portfolio through development, acquisitions and active property management. Choice Properties' principal tenant is Loblaw Companies Limited, Canada's largest food retailer. For more information, visit Choice Properties' website at www.choicereit.ca and Choice Properties' issuer profile at www.sedar.com.

SOURCE: Choice Properties Real Estate Investment Trust

Kim Lee
Vice President, Investor Relations and
Financial Planning & Analysis
Choice Properties Real Estate Investment Trust
t [phone]
e [email protected]