CWB to redeem $75 million of subordinated debentures
Canadian Western Bank (“CWB”) today announced its intention to redeem all $75 million of outstanding 5.571% subordinated debentures at par plus accrued interest to, but excluding, the redemption date. The redemption will occur on March 22, 2017, and will be financed out of CWB’s general corporate funds.
These subordinated debentures do not qualify as non-viability contingent capital (“NVCC”) under the Basel III regulatory capital requirements. Subsequent to the redemption, CWB’s Total capital ratio will remain well above the regulatory minimum of 10.5% and above management’s operating targets.
For Further Information Contact:
Matt Evans, CFA
Senior AVP, Strategy & Investor Relations
Canadian Western Bank
Phone: (780) 969-8337