Loblaw Companies Limited establishes medium term note program and completes C$350 million medium term note offering

Date Closed: 5/08/2009

Value: C$350 million

On May 8, 2009, Loblaw Companies Limited (Loblaw) established a Medium Term Note Program providing for the issuance of up to $775,000,000 of Medium Term Notes, Series 2. The Medium Term Note Program was established pursuant to an existing $1 billion shelf prospectus for debt and preferred shares which Loblaw implemented in 2008. Loblaw completed an issuance of $350,000,000 of Medium Term Notes, Series 2-A under the new program on May 8, 2009. The Medium Term Notes, Series 2-A were placed by a syndicate of underwriters co-led by CIBC World Markets Inc. and RBC Dominion Securities Inc., and included BMO Nesbitt Burns Inc., Merrill Lynch Canada Inc., National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc. Loblaw is Canada's largest food distributor and a leading provider of general merchandise products, drugstore and financial products and services.

Loblaw was represented by Robert A. Balcom, Senior Vice President and Secretary, David G. Gore, Vice-President, Legal Counsel and Adam Walsh, Legal Counsel, who were assisted by BLG with a team that included Paul A.D. Mingay, Gordon G. Raman, Dyana McLellan, Shaunik Katyal and Andrew Bunston (corporate and securities) and Larissa V. Tkachenko (tax).