Transaction|July 7, 2016
Canadian Western Bank closes common share offering
Torys acted as counsel to Canadian Western Bank with a team that included David Seville, Robbie Leibel and Simonne Horwitz (corporate/securities).
On July 7, 2016, Canadian Western Bank (CWB) announced the closing of its public offering of common shares. CWB issued 6,125,000 common shares at a price of C$24.50 per share to raise gross proceeds of approximately C$150 million. The offering was underwritten on a bought deal basis by a syndicate led by BMO Capital Markets and National Bank Financial Inc.
Net proceeds from the offering will be added to CWB's capital base and used for general corporate purposes.
CWB Group (CWB) is a diversified financial services organization serving businesses and individuals across Canada.
Further information can be found on Marketwired's website.