Loblaw Companies (TSE:L) has released an update.
Loblaw Companies Limited, a leading Canadian retailer, has announced a private placement of $400 million in senior unsecured notes at a 5.115% interest rate, maturing in 2054, primarily to refinance existing debt and for general corporate purposes. The offering, conducted by a syndicate including TD Securities and others, is set to close on March 4, 2024, subject to standard closing conditions and credit ratings by DBRS Limited and S&P. These notes will rank equally with Loblaw’s future unsecured and unsubordinated debt, and will not be available in the U.S. due to lack of registration under the U.S. Securities Act.
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