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EDMONTON, January 31, 2014 – Canadian Western Bank (TSX: CWB) today announced that as a result of strong investor demand for its previously announced domestic public offering of Basel III-compliant noncumulative 5-year rate reset First Preferred Shares Series 5, the size of the offering has been increased to 5 million shares.
The gross proceeds of the offering will now be $125 million. The offering will be underwritten on a bought deal basis by a syndicate led by National Bank Financial Inc. The expected closing date is February 10, 2014.
Net proceeds from the offering will be used for general corporate purposes and are expected to qualify as Tier 1 capital for CWB.
For Further Information Contact:
Kirby Hill, CFA
Vice President, Strategy & Communications
Canadian Western Bank
Phone: (780) 441-3770
Email: [email protected]
Tracey Ball, FCA
Executive Vice President & CFO
Canadian Western Bank
Phone: (780) 423-8865