08:25 AM EDT, 06/13/2025 (MT Newswires) -- First Capital Real Estate Investment Trust (FCR-UN.TO) on Friday closed its private placement offering of $300 million aggregate principal amount of Series E senior unsecured debenture.

First Capital plans to use the proceeds to repay existing debt, including the full repayment of the REIT's $300 million of Series S Debentures due July 31, 2025, and for general business purposes.

The debentures were issued at $100.00 per $100.00 principal amount of debentures, bearing an interest rate of 4.832% per annum and maturing on June 13, 2033, First Capital said.

A syndicate of agents co-led by Desjardins Capital Markets, RBC Capital Markets and TD Securities offered the debentures.

First Capital, which operates grocery-anchored, open-air centers in Canada, gained 1.1% on Thursday to $17.87 per share on the TSX.