Laurentian Bank of Canada announces closing of Limited Recourse Capital Notes offering

Date Closed

May 06, 2021

Lead Office

Toronto

Value

125.00 Million CAD

On May 7, 2021, Laurentian Bank of Canada closed its domestic public offering of C$125 million aggregate principal amount of 5.30% Limited Recourse Capital Notes, Series 1. The notes were sold through a syndicate of agents co-led by Laurentian Bank Securities and CIBC Capital Markets acting as joint bookrunners on this offering. In connection with the issuance of the Notes, Laurentian Bank of Canada also issued Non-Cumulative 5-Year Fixed Rate Reset Class A Preferred Shares, Series 17 to be held by Computershare Trust Company of Canada, as trustee of LBC LRCN Limited Recourse Trust.

Laurentian Bank of Canada is a Schedule 1 bank.

McCarthy Tétrault  advised Laurentian Bank of Canada with a team led by Jo-Anna Brimmer and Andrew Parker that included Michael Shahinian (Business), Gabrielle Richards, and Kabir Jamal (Tax).

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