H&R Real Estate Investment Trust (TSX:HR.UN) announced a best efforts basis private placement of senior unsecured series M debentures for gross proceeds of CAD 150,000,000 on January 16, 2017. The debentures will be issued at par and will bear interest at a rate equal to the three-month CDOR plus 123 basis points payable quarterly in arrears. The debentures will mature on July 23, 2019. It is conditional for debentures to be rated at least BBB (high) with a stable trend by DBRS for closing of the transaction. The debentures will rank pari passu with company’s outstanding senior unsecured debentures. The transaction is expected to close on January 23, 2017.