Montreal-basedLaurentian Bank of Canadacompleted its bought-deal offeringof subscription receipts.
The underwriters— led by TD Securities Inc. — fully exercised their overallotment option, acquiringan additional 423,600 subscription receipts, bringing the total subscription receiptsissued to 3,247,600 for total gross proceeds of C$155.4 million.
Each subscriptionreceipt entitles the holder to receive 1 Laurentian Bank common share.
Proceeds willbe used to fund a portion of the purchase price for the acquisition of CITGroup Inc.'s Canadian equipment financing and corporate financing activities,a portfolio of approximately C$1 billion.