CT Real Estate Investment Trust announced that it has agreed to issue, on a private placement basis in each of the provinces of Canada (the "Debenture Offering"), $250 million aggregate principal amount of series I senior unsecured debentures with a 4.6-year term and a coupon of 5.828% per annum (the "Series I Debentures"). CT REIT intends to use the net proceeds of the Debenture Offering for the repayment of short term indebtedness, 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, TD Securities Inc. and CIBC Capital Markets.

Subject to customary closing conditions, the Debenture Offering is expected to close on or about November 17, 2023. It is expected that the Series I Debentures will be rated "BBB" by S&P Global Ratings and "BBB" with a stable trend by DBRS Morningstar. The Series I Debentures will be direct senior unsecured obligations of CT REIT.

The Series I Debentures offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.