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Loblaw Companies Limited Completes Issuance of $350 Million of Senior Unsecured Notes
Loblaw Companies Limited Completes Issuance of $350 Million of Senior Unsecured Notes ...
About this update from Loblaw Companies Limited
[{"type":"text","content":"\n\n\n\nLoblaw Companies Limited Completes Issuance of $350 Million of Senior Unsecured Notes\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nBRAMPTON, ON, May 7, 2020\n\n\n\nBRAMPTON, ON, May 7, 2020 /CNW/ - (TSX: L) – Today, Loblaw Companies Limited (\"Loblaw\" or the \"Company\") announced that it has completed its previously announced issuance, on a private placement basis to qualified accredited investors (the \"Offering\"), 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 (the \"Notes\").  \nThe Company 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. \nThe Notes are unsecured and rank pari passu with all other unsecured and unsubordinated indebtedness of the Company.\nDBRS Limited has provided the Notes with a credit rating of \"BBB\" with a \"Positive\" outlook and Standard and Poor's Rating Services has provided the Notes with a credit rating of \"BBB\". \nThe Notes were sold on an agency basis by a syndicate of agents led by TD Securities, BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets and Scotia Capital. The Notes have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there any sale of the Notes in any jurisdiction where such offer, solicitation or sale would be unlawful. \nAbout Loblaw Companies Limited\nLoblaw is Canada's food and pharmacy leader, 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. With more than 2,4...