Loblaw Companies to issue $500-million of senior notes

Mr. Roy MacDonald reports LOBLAW COMPANIES LIMITED TO ISSUE $500 MILLION OF SENIOR UNSECURED NOTES Loblaw Companies Ltd. has agreed to issue, on a private placement basis to qualified accredited investors in the provinces of Canada, $500-million aggregate principal amount of senior unsecured notes of the company that will bear interest at a rate of 4.387 per cent per annum and will mature on June 16, 2035. The notes will be sold at par and are being offered on an agency basis by a syndicate of agents led by CIBC Capital Markets, RBC Capital Markets, TD Securities, BMO Capital Markets and Scotia Capital. Subject to customary closing conditions, the offering is expected to close on Dec. 16, 2025. The net proceeds of the offering will be used by the company to repay outstanding indebtedness under the company's syndicated revolving credit facility and for general corporate purposes. It is a condition of closing of the offering that the notes be rated at least BBB (high) with a positive trend by Morningstar DBRS and at least BBB plus by Standard and Poor's Rating Services. The notes will be unsecured obligations of the company, and will rank equally with all existing and future unsecured and unsubordinated indebtedness of the company. About Loblaw Companies Ltd. Loblaw is Canada's food and pharmacy leader, and the nation's largest retailer. Loblaw provides Canadians with grocery, pharmacy and health services, other health and beauty products, apparel, general merchandise, financial services, and wireless mobile products and services. With more than 2,800 locations, Loblaw, its franchisees and associate-owners employ more than 220,000 full- and part-time employees, making it one of Canada's largest private-sector employers. Loblaw's purpose -- Live Life Well -- puts first the needs and well-being of Canadians who make one billion transactions annually in the company's stores. Loblaw is positioned to meet and exceed those needs in many ways: convenient locations; more than 1,100 grocery stores that span the value spectrum from discount to specialty; full-service pharmacies at nearly 1,400 Shoppers Drug Mart and Pharmaprix locations and in close to 500 grocery stores; PC Financial services; affordable Joe Fresh fashion and family apparel; and four of Canada's top-consumer brands in Life Brand, Farmer's Market, no name and President's Choice. We seek Safe Harbor.