Loblaw Companies Limited issues private placement of C$350M Series 2030 Senior Unsecured Notes

Date Closed

May 07, 2020

Lead Office

Toronto

Value

350.00 Million CAD

On May 7, 2020, Loblaw Companies Limited completed its previously announced issuance, on a private placement basis to qualified accredited investors of $350 million aggregate principal amount of senior unsecured notes bearing interest at a rate of 2.284% per annum and maturing on May 7, 2030. Loblaw Companies Limited intends to use the net proceeds of the offering to partially fund the repayment of its outstanding $350 million aggregate principal amount of 5.22% Medium Term Notes, Series 2-B maturing June 18, 2020 and for general corporate purposes.

The Notes were sold on an agency basis by a syndicate of agents led by TD Securities Inc., BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets and Scotia Capital.

Loblaw is Canada'sfood and pharmacy leader, and the nation'slargest retailer.Loblaw Companies Limited is Canada's food and pharmacy leader, and the nation's largest retailer.

McCarthy Tétrault LLP advised TD Securities Inc. with a team led by Jo-Anna Brimmer that included Andrew Parker and Victoria Zed.

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