05:12 PM EST, 12/09/2024 (MT Newswires) -- Loblaw Companies ( LBLCF ) (L.TO, WN.TO) after close of trade Monday said it agreed to issue, on a private placement basis, $400 million aggregate principal amount of senior unsecured notes of the company carrying a 3.564% interest rate and maturing on Dec. 12, 2029.

The notes will be sold at par and are being offered on an agency basis by a syndicate of agents to qualified investors.

Proceeds will be used by the company to redeem all of its issued and outstanding Second Preferred Shares, Series B and for general corporate purposes.