Loblaw completes C$800M private placement of senior unsecured notes

Date Closed

December 10, 2018

Lead Office

Toronto

Value

800.00 Million CAD

On December 10, 2018, Loblaw Companies Limited completed a private placement of C$800 million aggregate principal amount of senior unsecured notes through a syndicate of agents. The offering included C$400 million of 3.918% Series 2024 notes, due June 10, 2024, and C$400 million of 4.488% Series 2028 notes, due December 11, 2028. The agents were led by TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc. and RBC Dominion Securities Inc., and included Citigroup Global Markets Canada Inc., Desjardins Securities Inc., MUFG Securities (Canada), Ltd., National Bank Financial Inc. and Scotia Capital Inc.

Loblaw intends to use the net proceeds of the offering to partially fund its previously announced redemption of C$800 million aggregate principal amount of 3.748% senior unsecured notes, due March 12, 2019, and for general corporate purposes.

Loblaw is one of Canada's food and pharmacy leaders, and the nation's largest retailer. Loblaw provides Canadians with grocery, pharmacy, health and beauty, apparel, general merchandise, financial services, and wireless mobile products and services.

McCarthy Tétrault LLP advised the agents with a team led by Andrew Parker that included Jo-Anna Brimmer and Alyssa Novoselac.

People