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Loblaw Companies Ltd Announces Pricing Of $1.6 Billion Of Senior Unsecured Notes


Thursday, 5 Sep 2013 08:42pm EDT 

Loblaw Companies Ltd announced the pricing of $1.6 billion aggregate principal amount of senior unsecured notes, consisting of $800 million of Senior Unsecured Notes, Series 2019 due March 12, 2019 (the Series 2019 Notes) and $800 million of Senior Unsecured Notes, Series 2023, due September 12, 2023 (the Series 2023 Notes, and collectively with the Series 2019 Notes, the Notes). The Notes will be offered through an agency syndicate consisting of Merrill Lynch Canada Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc. and TD Securities Inc., as joint bookrunners, and including Desjardins Securities Inc., National Bank Financial Inc., Scotia Capital Inc., Citigroup Global Markets Canada Inc. and J.P. Morgan Securities Canada Inc. The settlement date is September 10, 2013. The Series 2019 Notes will pay a fixed rate of 3.748% until maturity on March 12, 2019. The Series 2023 Notes will pay a fixed rate of 4.860% until maturity on September 12, 2023. The Notes will be unsecured obligations of the Company and will rank equally with all other unsecured indebtedness of the Company that has not been subordinated. The net proceeds of the offering will either be applied toward partial payment of the cash portion of the purchase price for the acquisition of all of the outstanding common shares of Shoppers Drug Mart Corporation (the Acquisition) or, if applicable, to repay indebtedness or for other general corporate purposes. 

Company Quote

62.53
-0.24 -0.38%
24 Dec 2014