Brookfield Properties Corp. (BPO,BPO.TO), its Canadian-based subsidiary, BPO Properties Ltd. (BPP.TO), along with ownership partners Canada Pension Plan Investment Board and Alberta Investment Management Corp. announced the completion of the refinancing of First Canadian Place in Toronto with C$310 million, five-year first mortgage bonds.
The financing was completed at a fixed rate of 5.367%. Proceeds from the financing will be used to repay the existing first mortgage bonds which matured on December 1, 2009 and to pay for costs associated with the building's rejuvenation program previously announced on September 23, 2009.
CIBC World Markets Inc. and RBC Dominion Securities Inc. acted as agents on the transaction.
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