Loblaw Companies Limited announced that it has completed its previously announced issuance, on a private placement basis to qualified accredited investors in each of the Provinces of Canada, of $400 million aggregate principal amount of senior unsecured notes of the company. The Offering comprised of $400 million aggregate principal amount of series 2054 notes bearing interest at a rate of 5.115% per annum and maturing on March 4, 2054. The company intends to use the net proceeds of the Offering to partially fund the repayment of its outstanding $400 million aggregate principal amount of 3.918% senior unsecured notes maturing June 10, 2024 and for general corporate purposes.

The Notes are unsecured and rank equally with all existing and future unsecured and unsubordinated indebtedness of the Company.