Loblaw Companies Limited closes offering of $1.6 billion of senior unsecured notes

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

BRAMPTON, ON, Sept. 10, 2013 /CNW/ - Loblaw Companies Limited (TSX: L) (the "Company") announced today that it has successfully closed its issuance of $1.6 billion aggregate principal amount of senior unsecured notes, consisting of $800 million of Senior Unsecured Notes, Series 2019 due March 12, 2019 (the "Series 2019 Notes") and $800 million of Senior Unsecured Notes, Series 2023, due September 12, 2023 (the "Series 2023 Notes", and collectively with the Series 2019 Notes, the "Notes").  The Series 2019 Notes carry a coupon of 3.748% per annum and were issued at par and the Series 2023 Notes carry a coupon of 4.860% per annum and were issued at par. The net proceeds from the offering have been placed in escrow and will be released from escrow upon satisfaction of the applicable release conditions in connection with the Company's proposed acquisition of the outstanding common shares of Shoppers Drug Mart Corporation.

The Notes have not been and will not be registered under the United States Securities Act of 1933 and may not be offered, sold or delivered in the United States or to U.S. Persons absent registration or an applicable exemption from the registration requirement of such Act. This news release does not constitute an offer to sell or a solicitation to buy the Notes in the United States.

About Loblaw Companies Limited

Loblaw Companies Limited, a subsidiary of George Weston Limited, is Canada's largest food retailer and a leading provider of drugstore, general merchandise and financial products and services. Loblaw is one of the largest private sector employers in Canada. With more than 1,000 corporate and franchised stores from coast to coast, Loblaw and its franchisees employ approximately 134,000 full-time and part-time employees. Through its portfolio of store formats, Loblaw is committed to providing Canadians with a wide, growing and successful range of products and services to meet the everyday household demands of Canadian consumers. Loblaw is known for the quality, innovation and value of its food offering. It offers Canada's strongest control (private) label program, including the unique President's Choice^®, no name^® and Joe Fresh^® brands. In addition, the Company makes available to consumers President's Choice Financial^® services and offers the PC^® points and PC Plus™ loyalty program. For more information, visit Loblaw's website at www.loblaw.ca and Loblaw's issuer profile at www.sedar.com.

SOURCE: Loblaw Companies Limited

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