Loblaw Completes Two-Tranche Medium Term Notes Offering

On June 1, 2001, Loblaw Companies Limited completed the issue of $600 million aggregate principal amount of Medium Term Notes in two tranches of $300 million each. The first tranche is comprised of 6 per cent Medium Term Notes maturing June 2, 2008, priced to yield 6.52 per cent semi-annually. The second tranche is comprised of 7.10 per cent Medium Term Notes maturing June 1, 2016.

The Notes were issued pursuant to the short-form shelf prospectus dated May 24, 2001 that qualified the issuance of up to $1.5 billion aggregate principal amount of Medium Term Notes during the next 25 months. The prospectus is the fifth shelf prospectus for MTN offerings that have been filed by Loblaw in the past five years. The recent issues bring to $2.8 billion the total principal amount of Medium Term Notes that have been issued and are outstanding under Loblaw’s MTN program.

The two recent offerings were led by CIBC World Markets Inc. and the syndicate of agent dealers included RBC Dominion Securities Inc., TD Securities Inc., National Bank Financial Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc. and Merrill Lynch Canada Inc.

Robert Balcom, General Counsel of Loblaw, handled the legal aspects for Loblaw on the shelf prospectus and the offerings with outside advice on the shelf prospectus provided by John Warren, Robert Black and Michael DeCosimo of Borden Ladner Gervais LLP. McCarthy Tétrault acted for the agent dealers in connection with the shelf prospectus and the offerings with a team that included Edward P. Kerwin, Dean C. Masse and Stephanie Haladner.