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

TORONTO, ONTARIO--(Marketwire - March 5, 2013) -

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 S senior unsecured debentures (the "Debentures"). The underwriting syndicate for the offering was co-led by RBC Capital Markets and TD Securities Inc. The Debentures carry a coupon rate of 2.87% and will mature on March 5, 2018.

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 February 27, 2013, which was filed with Canadian securities regulators.

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About RioCan

RioCan is Canada's largest real estate investment trust with a total capitalization of approximately $14.3 billion as at December 31, 2012. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 346 retail properties containing an aggregate of 82 million square feet, including 52 grocery anchored and new format retail containing 13.6 million square feet in the United States through various joint venture arrangements as at December 31, 2012. RioCan's portfolio also includes 11 properties under development in Canada. For further information, please refer to RioCan's website at www.riocan.com.