An anonymous director reports

CT REIT ANNOUNCES OFFERING OF $250M 5.828% SERIES I SENIOR UNSECURED DEBENTURES DUE JUNE 14, 2028

CT Real Estate Investment Trust (CT REIT) has agreed to issue, on a private-placement basis in each of the provinces of Canada, $250-million aggregate principal amount of Series I senior unsecured debentures with a 4.6-year term and a coupon of 5.828 per cent per annum. CT REIT intends to use the net proceeds of the debenture offering for the repayment of short-term indebtedness and to retain the balance of the proceeds for general business purposes.

The debenture offering will be on an agency basis led by RBC Capital Markets, TD Securities Inc. and CIBC Capital Markets. Subject to customary closing conditions, the debenture offering is expected to close on or about Nov. 17, 2023.

It is expected that the Series I debentures will be rated BBB by S&P Global Ratings and BBB with a stable trend by DBRS Morningstar. The Series I debentures will be direct senior unsecured obligations of CT REIT.

About CT Real Estate Investment Trust

CT REIT is an unincorporated, closed-end real estate investment trust formed to own income-producing commercial properties located primarily in Canada. Its portfolio comprises over 370 properties totalling more than 30 million square feet of gross leasable area, consisting primarily of net lease single-tenant retail properties located across Canada. Canadian Tire Corp. Ltd. is CT REIT's most significant tenant.

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