11:17 AM EDT, 11/01/2024 (MT Newswires) -- First Capital Real Estate Investment Trust (FCR-UN.TO) on Friday said it closed its offering of $200 million Series D senior unsecured debentures on a private placement basis with proceeds earmarked to pay down debt and for general business purposes.

The debentures were issued at a price of $99.995 per $100.00 principal amount of debentures, bear interest at a rate of 4.513% per annum and will mature on June 3, 2030. Inclusive of the benefit of bond forward hedges, the REIT's all-in interest rate will be 4.47% per annum.

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

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