- Laurentian Bank of Canada (LB) has closed its offering of $125 million of 5.30 per cent limited recourse capital notes
- The notes were sold through a syndicate of agents co-led by Laurentian Bank Securities and CIBC Capital Markets
- Laurentian Bank Financial Group has $29.2 billion in assets under administration
- Laurentian Bank of Canada is a financial services provider
- Laurentian Bank of Canada (LB) is up 0.89 per cent, trading at C$43.23 per share at 1 pm ET
Laurentian Bank of Canada (LB) has closed its offering of $125 million of 5.30 per cent limited recourse capital notes, Series 1.
The notes were sold through a syndicate of agents co-led by Laurentian Bank Securities and CIBC Capital Markets acting as joint bookrunners.
Laurentian Bank also issued Non-Cumulative 5-Year Fixed Rate Reset Class A preferred shares, Series 17 to be held by Computershare Trust Company of Canada, as trustee of LBC LRCN Limited Recourse Trust.
In case of non-payment of the notes when due, the recourse of each noteholder will be limited to that holder’s proportionate share of the limited recourse trust’s assets in respect of the Notes which will consist of Preferred Shares Series 17.
Laurentian Bank Financial Group has $45.2 billion in balance sheet assets and $29.2 billion in assets under administration.
Founded in 1846, Laurentian Bank of Canada is a financial services provider that provides personal banking, business solutions as well as real estate and commercial financing to individuals and small-to-medium-sized businesses.
Laurentian Bank of Canada (LB) is up 0.89 per cent, trading at C$43.23 per share at 1 pm ET.