Laurentian Bank of Canada announces closing of C$125 million bought deal
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MONTREAL, April 3, 2014 /CNW Telbec/ - Laurentian Bank of Canada (TSX: LB)
("Laurentian Bank") has announced today that it has closed its previously
announced public offering, on a bought deal basis, of 5,000,000 Basel
III-compliant Non-Cumulative Class A Preferred Shares, Series 13 (the
"Preferred Shares Series 13"), at a price of $25.00 per share for gross
proceeds of $125 million (the "Offering").
The Offering was underwritten by a syndicate led by RBC Dominion Securities
Inc., BMO Capital Markets and Laurentian Bank Securities Inc.
The Preferred Shares Series 13 will commence trading on the Toronto Stock
Exchange today under the ticker symbol "LB.PR.H.".
The Preferred Shares Series 13 were issued pursuant to a prospectus supplement
dated March 27, 2014 to Laurentian Bank's short form base shelf prospectus
dated October 10, 2012.
The securities offered have not been, and will not be, registered under the
U.S. Securities Act of 1933 (the "U.S. Securities Act"), as amended, and may
not be offered, sold or delivered, directly or indirectly, in the United
States, its territories, its possessions and other areas subject to its
jurisdiction or to, of for the account or benefit of, a U.S. person (as such
term is defined in the U.S. Securities Act), 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 be any sale of the securities in any State in which such
offer, solicitation or sale would be unlawful.
Laurentian Bank of Canada is a banking institution whose activities extend
across Canada. Recognized for its excellent service, proximity and simplicity,
the Bank serves one and a half million clients throughout the country. Founded
in 1846, the Bank is among the 2014 edition of the Montréal's Top Employers
competition, which showcases the city's top 25 companies offering enviable
places to work. It currently employs some 3,800 people whose talent and
dedication has made it a major player in numerous market segments.
Laurentian Bank distinguishes itself through the excellence of its execution
and its agility. Catering to the needs of retail clients via its extensive
branch network and constantly evolving virtual offerings, the Bank has also
earned a solid reputation among SMEs, larger businesses and real estate
developers thanks to its growing presence across Canada and its specialized
teams in Ontario, Québec, Alberta and British Columbia. For its part, the
organization's B2B Bank subsidiary is a Canadian leader in providing banking
and investment products and services to financial advisors and brokers, while
Laurentian Bank Securities is an integrated broker that is also widely known
for its expert and effective services nationwide. The institution has more
than $33 billion in balance sheet assets and more than $39 billion in assets
SOURCE Laurentian Bank of Canada
Gladys Caron Vice-President Public Affairs, Communications and Investor
Relations 514 284-4500, extension 7511 email@example.com
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CO: Laurentian Bank of Canada
NI: FIN FIN NEWSTK 2523
-0- Apr/03/2014 13:27 GMT
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