Laurentian Bank of Canada completes $350M offering

On June 22, 2017, Laurentian Bank of Canada (the Bank) completed a public offering of $350 million aggregate principal amount of 4.25-per-cent Notes due June 22, 2027 (Non-Viability Contingent Capital, or NVCC) (subordinated indebtedness), the Bank’s initial offering of NVCC subordinated indebtedness.

The offering was made pursuant to the Bank’s short form base shelf prospectus dated December 20, 2016, and the Bank’s prospectus supplement dated June 15, 2017, which were filed with the securities regulatory authorities in all provinces of Canada.

The syndicate of dealers, led by Laurentian Bank Securities Inc., was also comprised of CIBC World Markets Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., TD Securities Inc., Desjardins Securities Inc., National Bank Financial Inc. and Scotia Capital Inc.

The Bank was represented in-house by Christian Marcoux, Vice-President, Legal Affairs and Secretary and Emmanuela Fleurandin, Legal Counsel and Assistant Secretary. Norton Rose Fulbright Canada LLP acted as counsel to the Bank with a team that included Solomon Sananes, Renée Loiselle and Thomas Charest-Girard (corporate/securities) and Derek Chiasson (tax).

Fasken Martineau DuMoulin LLP acted as counsel to the dealers with a team that included Jean-Pierre Chamberland, Sébastien Bellefleur and Charles-Alexandre Brosseau (corporate/securities).