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LOBLAW COMPANIES LIMITED COMPLETES ISSUANCE OF $800 MILLION OF SENIOR UNSECURED NOTES
LOBLAW COMPANIES LIMITED COMPLETES ISSUANCE OF $800 MILLION OF SENIOR UNSECURED NOTES ...
About this update from Loblaw Companies Limited
[{"type":"text","content":"\n \n \n \n LOBLAW COMPANIES LIMITED COMPLETES ISSUANCE OF $800 MILLION OF SENIOR UNSECURED NOTES\n \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 Canada NewsWire\n \n \n \n \n \n \n BRAMPTON, ON\n \n \n ,\n \n \n Sept. 13, 2022\n \n \n /CNW/ -\n \n (TSX: L)\n \n – 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 in each of the Provinces of\n \n Canada\n \n , of\n \n $800 million\n \n aggregate principal amount of senior unsecured notes of the Company in two series (the \"Offering\"). The Offering included (i)\n \n $400 million\n \n aggregate principal amount of series 2032 notes bearing interest at a rate of 5.008% per annum and maturing on\n \n September 13, 2032\n \n , and (ii)\n \n $400 million\n \n aggregate principal amount of series 2052 notes bearing interest at a rate of 5.336% per annum and maturing on\n \n September 13, 2052\n \n (collectively, the \"Notes\").\n \n \n The Company intends to use the net proceeds of the Offering to fund the previously announced redemption of its outstanding\n \n $800 million\n \n aggregate principal amount of 4.860% senior unsecured notes maturing\n \n September 12, 2023\n \n and for general corporate purposes.\n \n \n The Notes are unsecured and rank pari passu with all other unsecured and unsubordinated indebtedness of the Company.\n \n \n DBRS Limited has provided the Notes with a credit rating of \"BBB (high)\" with a \"Stable\" outlook and Standard and Poor's Rating Services has provided the Notes with a credit rating of \"BBB\".\n \n \n The Notes were sold on an agency basis by a syndicate of agents led by TD Securities, CIBC Capital Markets, RBC Capital Markets, BMO 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\n \n the United States\n \n absent registration or an applicable exemption from the registration requirements. This press release shall not ...