First Capital REIT

The agents in connection with First Capital REIT’s offering of $300 million Series B unsecured debentures


First Capital REIT


$300 million


Capital Markets

Date Closed

March 2024


Real Estate

Lead Office



On March 1, 2024, First Capital REIT announced the closing of its offering of $300 million aggregate principal amount of Series B senior unsecured debentures on a private placement basis in certain provinces of Canada. The debentures were offered through a syndicate of agents co‐led by Desjardins Capital Markets, RBC Capital Markets and TD Securities. The Debentures were issued at par, with an interest rate of 5.572% per annum and will mature on March 1, 2031.

First Capital REIT owns, operates and develops grocery-anchored, open-air centres in neighbourhoods with the strongest demographics in Canada.

Osler, Hoskin & Harcourt LLP advised the agents with a team consisting of Michael Innes, Kevin Feng, Bradley Lastman, Jacqueline Kang, Min Oh (Corporate), Timothy Hughes and James Chang (Tax).