National Bank of Canada Secures $1 Billion for Acquisition

National Bank of Canada (TSE:NA) has released an update.

National Bank of Canada successfully closed a $1 billion financing package through a public offering and private placement of subscription receipts, set to bolster regulatory capital ratios and fund an acquisition. The receipts, now trading on the Toronto Stock Exchange, were partially sold to underwriters and to an affiliate of Caisse de dépôt et placement du Québec. Proceeds will be held in escrow until the completion of the purchase of Canadian Western Bank, anticipated by the end of 2025.

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