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Laurentian Bank of Canada closes bought-deal offering; gross proceeds at C$155.4M

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Laurentian Bank of Canada closes bought-deal offering; gross proceeds at C$155.4M

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.