CWB Financial Group

Debt security information

 

Each of the following qualifies as a bank debenture under the Bank Act and is subordinate in right of payment to all deposit liabilities. All redemptions are subject to the approval of OSFI.

 

Interest Rate Maturity date  Earliest redemption date  Carrying amount (Dec/31/2013) 
3.463%(1)  Dec/17/2024  Dec/17/2019  $250,000,000
5.571%(2)  Mar/21/2022  Mar/22/2017  $75,000,000 

Total 

 

 

$325,000,000 

(1) These conventional debentures have a 12-year term with a fixed interest rate for the first seven years. Thereafter, the interest rate will be set quarterly at the Canadian dollar CDOR 90-day Bankers’ Acceptance rate plus 160 basis points.
(2) These conventional debentures have a 15-year term with a fixed interest rate for the first 10 years. Thereafter, the interest rate will be reset quarterly at the Canadian dollar CDOR 90-day Bankers’ Acceptance rate plus 180 basis points.

 

 

Rating Agency

 

Long-term debt and senior deposits

 

Short-term   debt

 

Subordinated debentures

 

Outlook 

 DBRS A (low)  R-1 (low)  BBB (high)  Stable