MONTREAL, Dec. 6 /CNW Telbec/ - Laurentian Bank of Canada has decided to exercise its right to redeem on January 25, 2011 aIl of its 4.90% Debentures, Series 10, due January 25, 2016 (the ''Debentures''), of an aggregate principal amount of $150,000,000. The Debentures wilI be redeemed at a price equal to the principal amount thereof, together with accrued and unpaid interest to but excluding the date fixed for redemption, payable in lawful money of Canada. The interest on the Debentures shall cease to accrue from and after the redemption date on January 25, 2011. The Debentures so redeemed will be cancelled forthwith.
About Laurentian Bank
Laurentian Bank of Canada is a banking institution operating across Canada and offering its clients diversified financial services. Distinguishing itself through excellence in service, as well as through its simplicity and proximity, the Bank serves individual consumers and small and medium-sized businesses. The Bank also offers its products to a wide network of independent financial intermediaries through B2B Trust, as well as full-service brokerage solutions through Laurentian Bank Securities.
Laurentian Bank is well established in the Province of Quebec, operating the third-largest retail branch network. Elsewhere throughout Canada, it operates in specific market segments where it holds an enviable position. Laurentian Bank of Canada has more than $23 billion in balance sheet assets and more than $14 billion in assets under administration. Founded in 1846, the Bank employs more than 3,600 people.
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