Central 1 Credit Union closes C$300 million debt offering

Date Closed: 11/24/2014

Value: C$300 million

On November 24, 2014, Central 1 Credit Union completed a $300,000,000 private placement of senior unsubordinated notes.  The notes have a maturity date of November 24, 2016, with interest payments quarterly at a rate of 3 month CDOR plus 40 basis points.

CIBC World Markets Inc. and RBC Dominion Securities Inc. acted as co-lead agents for the private placement, with a syndicate including TD Securities Inc., BMO Nesbitt Burns Inc., Casgrain & Company Limited, Desjardins Securities Inc. and Scotia Capital Inc.

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