Loblaw Companies Limited Completes $225 million Preferred Share Issue

On June 20, 2008, Loblaw Companies Limited (“Loblaw”) issued 9 million cumulative redeemable convertible Second Preferred Shares, Series A at a price of $25.00 per share, to yield 5.95 per cent per share, raising gross proceeds of $225 million. The Preferred Shares were sold through a syndicate of underwriters co-led by RBC Dominion Securities Inc. and CIBC World Markets Inc., and included BMO Nesbitt Burns Inc., Scotia Capital Inc., National Bank Financial Inc., TD Securities Inc. and Merrill Lynch Canada Inc. Loblaw is Canada's largest food distributor and a leading provider of general merchandise products, drugstore and financial products and services.

The underwriters were represented by McCarthy Tétrault LLP with a team led by Edward Kerwin (capital markets, corporate finance, securities) and that included Matthew Kelleher (capital markets, corporate finance, securities) and Steven Baum (tax).

Loblaw was represented by in-house counsel Robert Balcom, Senior Vice President, General Counsel and Secretary, and Adam Walsh, Legal Counsel, who were assisted by Borden Ladner Gervais LLP with a team led by Paul A.D. Mingay and that included Adam J. Segal and Shaunik Katyal (corporate and securities) and Larissa V. Tkachenko (tax).

Lawyer(s)

Adam Segal Larissa V. Tkachenko Shaunik Katyal Paul A.D. Mingay