H&R Real Estate Investment Trust announced it has entered into an agreement to sell on a private placement best efforts agency basis, to a syndicate of agents co-led and bookrun by CIBC World Markets Inc., Scotia Capital Inc. and National Bank Financial Inc. and including BMO Capital Markets, RBC Dominion Securities Inc. and TD Securities Inc., $250 million principal amount of senior unsecured debentures (the Series T Debentures). The Series T Debentures will be issued for $100.00 per $100.00 principal amount, carry a coupon rate of 5.457% and will mature on February 28, 2029. Subject to customary closing conditions, the offering is expected to close on or about February 28, 2024.

It is a condition of closing to the offering that the debentures be rated at least BBB by DBRS. The offering is on a private placement basis and the debentures will be issued pursuant to H&R REIT's trust indenture dated February 3, 2010 as supplemented.