Laurentian Bank Completes Two Public Offerings

On November 1, 2000, Laurentian Bank of Canada completed two public offerings, the first relating to 2,500,000 common shares issued for an aggregate price of $63.5 million, and the second relating to $100 million aggregate principal amount of subordinated indebtedness designated as Debentures 6.50 per cent, Series 9, due 2011. Net proceeds of these issues will be used for general banking purposes. The purpose of these issues was to enlarge the Bank’s Tier 1 and Tier 2B capital base, respectively.

The syndicate of underwriters for the common shares was composed of Scotia Capital Inc., BLC Securities Inc., BMO Nesbitt Burns Inc., Merrill Lynch Canada Inc., National Bank Financial Inc., RBC Dominion Securities Inc., TD Securities Inc., Desjardins Securities Inc., Dundee Securities Corporation and HSBC Securities (Canada) Inc. The syndicate of underwriters for the subordinated indebtedness was composed of BLC Securities Inc., National Bank Financial Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., CIBC World Markets Inc., HSBC Securities (Canada) Inc., Merrill Lynch Canada Inc. and TD Securities Inc.

Laurentian Bank was represented for both issues by its in-house counsel, Lorraine Pilon, Vice-President, Legal Affairs and Compliance, and by Jean Daigle and Marguerite Goraczko of Ogilvy Renault in Montreal. The underwriters for the common shares issue were represented by Christine Desaulniers and Louis Morisset of the Montreal office of Stikeman Elliott, and the underwriters for the issue of subordinated indebtedness were represented by Luc Lissoir, Pierre Lissoir and Olivier Désilets of the Montreal office of Gowling Lafleur Henderson LLP.