CWB will redeem series F NVCC subordinated bonds

EDMONTON, AB, May 3, 2024 /CNW/ – Canadian Western Bank (CWB) today announced its intention to repay all outstanding loans $250 million 3.668% Series F Subordinated Notes (Non-viability of contingent capital (NVCC)) due June 11, 2024 for 100 percent of the principal amount plus accrued interest up to, but excluding, the repayment date. The redemption will take place on June 11, 2024. Formal notice will be delivered to bondholders in accordance with the terms set forth in the related trust agreement.

The redemption has been approved by the Office of the Superintendent of financial institutions and will be funded from CWB’s general operating funds. Following redemption, CWB’s total capital ratio will remain well above the regulatory minimum of 10.5% and above management’s operational targets.

About CWB Financial Group

CWB is the only full-service financial institution in Canada with a strategic focus on meeting the unique financial needs of businesses and their owners. We offer nationwide full-service business and personal banking, specialized financing, comprehensive wealth management offerings and trust services. Our teams deliver a uniquely proactive and differentiated level of service to clients in specific sectors where we have deep expertise. Customers choose CWB because of our highly personal service, specialized expertise, customized solutions and faster response times.

As a publicly traded company on the Toronto Stock Exchange (TSX), CWB trades under the symbols “CWB” (common stock), “CWB.PR.B” (series 5 preferred stock) and “CWB.PR.D” (series 9 preferred stock). We are committed to creating value responsibly for all our stakeholders and our approach to sustainability will underpin our continued success. More information can be found at www.cwb.com.

SOURCE CWB Financial Group

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