Cominar announces closing of $200 million of 4.23% Series 2 senior unsecured debentures

        






Cominar announces closing of $200 million of 4.23% Series 2 senior unsecured debentures

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

QUEBEC CITY, Dec. 4, 2012 /CNW Telbec/ - Cominar Real Estate Investment Trust ("Cominar") (TSX: CUF.UN) announces today that it has closed its previously announced public offering of $200 million aggregate principal amount of 4.23% Series 2 senior unsecured debentures due December 4, 2019 (the "Debentures"). The Debentures were sold pursuant to an Agency Agreement with National Bank Financial Inc. and BMO Capital Markets, as co-lead agents, along with a syndicate that also includes Desjardins Securities Inc., RBC Dominion Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Canaccord Genuity Corp., Dundee Securities Ltd. and Macquarie Capital Markets Canada Ltd. for total net proceeds to Cominar of approximately $199.0 million, after deducting the agents' fee and the expenses of the offering. The proceeds from the sale of the Debentures will be used to repay amounts outstanding under its credit facilities, thus replacing short-term indebtedness with longer term debt.

The Debentures have not been and will not be registered under the United States Securities Act of 1933 and accordingly will not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to applicable exemptions from the registration requirements.

PROFILE as at December 4, 2012

Cominar is the third largest diversified real estate investment trust in Canada and currently remains the largest commercial property owner in the Province of Québec. Cominar owns a real estate portfolio of 482 high-quality properties, consisting of 122 office, 158 retail and 202 industrial and mixed-use buildings that cover a total area of 35 million square feet in Québec, Ontario, the Atlantic Provinces and Western Canada. Cominar's objectives are to pay growing cash distributions to unitholders and to maximize unitholder value by way of proactive management and the expansion of its portfolio.

Forward-Looking Statements

This press release may contain forward-looking statements with respect to Cominar and  its operations, strategy, financial performance and financial condition. These statements generally can be identified by the use of forward-looking words such as "may", "will",  "expect", "estimate", "anticipate", "intend", "believe" or "continue" or the negative  thereof or similar variations. The actual results and performance of Cominar discussed  herein could differ materially from those expressed or implied by such statements. Such  statements are qualified in their entirety by the inherent risks and uncertainties  surrounding future expectations. Some important factors that could cause actual results  to differ materially from expectations include, among other things, general economic and  market factors, competition, changes in  government regulation and the factors described under "Risk Factors" in the Annual  Information Form of Cominar. The cautionary statements qualify all forward-looking statements attributable to Cominar and persons acting on its behalf. Unless otherwise  stated, all forward-looking statements speak only as of the date of this press release.

SOURCE COMINAR REAL ESTATE INVESTMENT TRUST

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