A syndicate of dealers co-led by National Bank Financial completes a renewal of medium term notes issued by Saputo

Date Closed

December 15, 2020

Lead Office

Montréal

Value

3.00 Billion CAD

On December 15, 2020, Saputo Inc. ("Saputo") renewed its medium term note program (the “MTN Program”) under which Saputo may issue and sell from time to time up to C$3 billion unsecured medium term notes (the “Notes”). The Notes have been assigned a rating of BBB (high) with a Stable Trend by DBRS Limited and a rating of Baa1 with a Stable Outlook by Moody's Canada Inc. The Notes will be offered under the MTN Program by a syndicate of dealers composed of one or more of National Bank Financial Inc., BMO Nesbitt Burns Inc., TD Securities Inc., RBC Dominion Securities Inc., CIBC World Markets Inc., Desjardins Securities Inc., Scotia Capital Inc., Merrill Lynch Canada Inc., MUFG Securities (Canada), Ltd. and Rabo Securities Canada, Inc.

National Bank Financial is one of the biggest investment brokers in Canada.

Saputo Inc. is a Montreal-based Canadian dairy company that produces, markets, and distributes a wide array of dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients.

McCarthy Tétrault LLP advised syndicate of dealers with a team led by Patrick Boucher that included Vincent Laurin and Karl Bherer.

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