Loblaw is selling more than just groceries on Tuesday, as the retail chain markets a $300-million bond offering to investors.
Toronto-based Loblaw is selling 10-year medium term notes in a deal that is being led by CIBC World Markets and RBC Dominion Securities. The investment banks anticipate paying an interest rate that is 180 basis points over the comparable government of Canada debt.
Bond traders report there is strong interest in this investment grade issue, and Loblaw may bump up the size of the financing to $350-million.
Follow us on Twitter: