Laurentian Bank Completes Preferred Share Offering

Laurentian Bank of Canada successfully completed a public offering in Canada on November 7, 2001, of four million non-cumulative Class A Preferred Share Series 9 of the bank at a price of $25 per share, raising gross proceeds of $100 million. The net proceeds of the issue were added to the bank’s general funds and will be used to pay the redemption price of the Class A Preferred Shares Series 6 in the amount of $60 million and for general business purposes. The purpose of the issue was to enlarge the bank’s tier-one capital base.

Laurentian Bank of Canada was represented by a team from Ogilvy Renault consisting of Jean Daigle, Marie-France Nantel, Catherine Mateu and Nicolas Labrecque. The underwriting syndicate was composed of RBC Dominion Securities Inc., Laurentian Bank Securities Inc., BMO Nesbitt Burns, Inc., Merrill Lynch Canada Inc., National Bank Financial Inc., Scotia Capital Inc., CIBC World Markets, TD Securities Inc., Desjardins Securities Inc., Dundee Securities Corporation and HSBC Securities (Canada) Inc. The underwriters were advised by Mihkel Voore, Darin R. Renton and Justin McKellar of the Toronto office of Stikeman Elliott.


Darin R. Renton Marie-France Nantel Mihkel E. Voore Nicolas Labrecque Catherine Mateu Jean Daigle