Canadian Western Bank issues $150 million of Senior Deposit Notes – The title of the feed item<\/p>\n
EDMONTON, November 4, 2011 \u2013 Canadian Western Bank (the \u201cBank\u201d)(TSX: CWB) today\u00a0announced the completion of a $150 million issuance of Senior Deposit Notes (\u201cthe Notes\u201d) in the debt\u00a0capital markets to a broad group of investors. Proceeds of the issue were added to the Bank’s general\u00a0funds and will be utilized for general banking purposes.<\/p>\n
The Notes bear interest on a fixed rate basis at 2.57%, paid semi-annually, representing a spread of\u00a0131.5 basis points above the benchmark Government of Canada instrument. The Notes will mature on\u00a0November 4, 2014 and will not be redeemable prior to the maturity date. The current rating assigned by\u00a0DBRS Limited on Canadian Western Bank\u2019s deposits and senior debt is \u201cA (low)\u201d with a stable trend.<\/p>\n
\u201cWe were very pleased with the success of this placement, which represented our second issuance of\u00a0senior debt this year,\u201d said Tracey Ball, the Bank\u2019s Executive Vice President and Chief Financial\u00a0Officer. \u201cSelectively utilizing the debt capital markets is part of our strategy to further diversify the\u00a0Bank\u2019s funding base over time. It was great to see the strong level of interest expressed by the group of\u00a0accredited investors who chose to participate in this offering.\u201d<\/p>\n
RBC Capital Markets and National Bank Financial acted as co-lead agents on the issue.<\/p>\n
About Canadian Western Bank Group
\nCanadian Western Bank offers highly personalized service through 40 branch locations and is the largest\u00a0publicly traded Canadian bank headquartered in Western Canada. The Bank specializes in mid-market\u00a0commercial lending and offers a full complement of personal banking services. The Bank, along with its\u00a0operating affiliates, National Leasing Group Inc., Canadian Western Trust Company, Valiant Trust\u00a0Company, Canadian Direct Insurance Incorporated, Adroit Investment Management Ltd. and Canadian\u00a0Western Financial Ltd., collectively offer a diversified range of financial services across Canada and are\u00a0together known as Canadian Western Bank Group. The common shares of Canadian Western Bank are\u00a0listed on the Toronto Stock Exchange under the trading symbol \u201cCWB\u201d. Refer to\u00a0www.cwbankgroup.com for additional information.<\/p>\n
For Further Information Contact:
\nKirby Hill, Director, Investor and Public Relations, External Communications Canadian Western Bank,\u00a0Phone: (780) 441-3770<\/p>\n
http:\/\/thebankerwhosavedhissoul.com\/canadian-western-bank-issues-150-million-of-senior-deposit-notes\/ – The link to the feed item <\/p>\n","protected":false},"excerpt":{"rendered":"
Canadian Western Bank issues $150 million of Senior Deposit Notes – The title of the feed item EDMONTON, November 4, 2011 \u2013 Canadian Western Bank (the \u201cBank\u201d)(TSX: CWB) today\u00a0announced the completion of a $150 million issuance of Senior Deposit Notes (\u201cthe Notes\u201d) in the debt\u00a0capital markets to a broad group…<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-31175","post","type-post","status-publish","format-standard","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts\/31175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/comments?post=31175"}],"version-history":[{"count":0,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts\/31175\/revisions"}],"wp:attachment":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/media?parent=31175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/categories?post=31175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/tags?post=31175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}