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Press release from Marketwire

RioCan Real Estate Investment Trust Announces Completion of Public Offering of $250 Million Series R Senior Unsecured Debentures

Wednesday, December 12, 2012

RioCan Real Estate Investment Trust Announces Completion of Public Offering of $250 Million Series R Senior Unsecured Debentures08:27 EST Wednesday, December 12, 2012TORONTO, ONTARIO--(Marketwire - Dec. 12, 2012) -MEDIA RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) today announced that it has successfully completed its issuance of $250 million principal amount of Series R senior unsecured debentures (the "Debentures"). The underwriting syndicate for the offering was co-led by TD Securities Inc. and Scotia Capital. The Debentures carry a coupon rate of 3.716% and will mature on December 13, 2021. The offering was made under RioCan's base shelf short form prospectus dated June 11, 2012. The terms of the offering are described in a prospectus supplement dated December 7, 2012, which was filed with Canadian securities regulators. About RioCan RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $13.9 billion as at September 30, 2012. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 338 retail properties containing an aggregate of 80 million square feet, including 49 grocery anchored and new format retail containing 12.4 million square feet in the United States through various joint venture arrangements as at September 30, 2012. RioCan's portfolio also includes 10 properties under development in Canada. For further information, please refer to RioCan's website at www.riocan.com.FOR FURTHER INFORMATION PLEASE CONTACT: Contact Information: RioCan Real Estate Investment TrustRags DavloorExecutive Vice President & CFO(416) 642-3554www.riocan.com