Shoppers Drug Mart sells C$500 mln notes in 2 parts - term sheet

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Shoppers Drug Mart Corp on Wednesday sold C$500 million ($490 million) of senior unsecured medium-term notes in two parts, according to a term sheet seen by Reuters.

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The sale included C$225 million ($221 million) of notes due May 24, 2016. The 2.01 percent notes were priced at 99.980 to yield 2.017 percent, or 79.7 basis points over the Canadian government benchmark, according to the term sheet.

 

It also included C$275 million ($270 million) of notes due May 24, 2018. The 2.36 percent notes were priced at 99.962 to yield 2.368 percent, or 94.8 basis points over the Canadian government benchmark.

The joint book-running managers on the sale were the investment dealer arms of Royal Bank of Canada, Bank of Nova Scotia, Canadian Imperial Bank of Commerce and Toronto-Dominion Bank.

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