​Central 1 Credit Union closes C$300 million offering of floating rate notes

Date closed: 5/1/2014

Value: C$300 million

On May 1, 2014, Central 1 Credit Union closed the $300,000,000 offering of Floating Rate Notes – Series 11, due May 1, 2017.

Interest on the notes is payable at a rate of 3 month CDOR plus 45 basis points, and is payable quarterly on the 1st of each February, May, August and November beginning August 1, 2014.

CIBC World Markets and RBC Dominion Securities Inc. acted as co-lead agents, with a syndicate comprised of TD Securities Inc., BMO Nesbitt Burns Inc., Desjardins Securities Inc. and Scotia Capital Inc.

Central 1, headquartered in Vancouver, British Columbia, is the central financial facility and trade association for the B.C. and Ontario credit union systems.

BLG represented Central 1 Credit Union with a team led by Warren Learmonth that includes Stephen Robertson and Scott Howie.