CT Real Estate Investment Trust announced that it has agreed to issue, on a private placement basis in each of the provinces of Canada, $250 million aggregate principal amount of series H senior unsecured debentures with a seven-year term and a coupon of 3.029% per annum. CT REIT intends to use the net proceeds of the Debenture Offering to redeem all of its outstanding 2.852% Series A Senior Unsecured Debentures due June 9, 2022, to pay down certain amounts outstanding under its credit facilities, 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, BMO Nesbitt Burns and CIBC World Markets.

Subject to customary closing conditions, the Debenture Offering is expected to close on or about February 3, 2022. CT REIT announced that it has provided holders of its Series A Debentures a notice of redemption pursuant to which CT REIT intends to redeem the entire outstanding principal amount of Series A Debentures on February 11, 2022. As of the date hereof, $150 million aggregate principal amount of Series A Debentures is outstanding.

On the redemption date, the outstanding Series A Debentures will be redeemed in accordance with their terms at a redemption price per $1,000 principal amount of Series A Debentures equal to $1,004.96 plus accrued and unpaid interest, to but excluding the redemption date, of $5.00, and will thereafter cease to be outstanding.