U.S. Markets closed

CWB announces closing of subordinated debenture offering

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ./

EDMONTON , June 11, 2019 /CNW/ - Canadian Western Bank ("CWB") (CWB.TO) today announced that it has closed its domestic public offering of $250 million aggregate principal amount of 3.668% Series F Subordinated Debentures due June 11, 2029 (Non-Viability Contingent Capital (NVCC)) (the "Debentures"). The Debentures were sold through a syndicate of agents led by BMO Capital Markets and RBC Capital Markets. Net proceeds from the offering will be added to CWB's general funds and utilized for general banking purposes, including future refinancing requirements.

Canadian Western Bank (CNW Group/Canadian Western Bank)

The Debentures were issued under a prospectus supplement dated June 6, 2019 to CWB's short form base shelf prospectus dated January 4, 2019 .

The Debentures have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or under any state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the United States of America and its territories and possessions or to, or for the account or benefit of, United States persons except in certain transactions exempt from the registration requirements of such Act and applicable state securities laws. This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities in the United States .

About CWB Financial Group

CWB Financial Group is a diversified financial services organization serving businesses and individuals across Canada . Operating from its headquarters in Edmonton, Alberta , CWB's key business lines include full service business and personal banking offered through branches of Canadian Western Bank, and Internet banking services provided by Motive Financial. Highly responsive specialized financing is delivered under the banners of CWB Optimum Mortgage, CWB Equipment Financing, CWB National Leasing, CWB Maxium Financial and CWB Franchise Finance. Trust Services are offered through Canadian Western Trust. Comprehensive wealth management offerings are provided through CWB Wealth Management, which includes the businesses of CWB McLean & Partners Wealth Management and Canadian Western Financial. As a public company on the Toronto Stock Exchange (TSX), CWB trades under the symbols "CWB" (common shares), "CWB.PR.B" (Series 5 Preferred Shares), "CWB.PR.C" (Series 7 Preferred Shares) and "CWB.PR.D" (Series 9 Preferred Shares). Learn more at www.cwb.com.

SOURCE Canadian Western Bank


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2019/11/c5488.html