MONTREAL, April 21, 2021 (GLOBE NEWSWIRE) Laurentian Bank of Canada (TSX: LB) (“
Laurentian Bank”) today announced that it has received approval from Canada Mortgage and Housing Corporation (“
CMHC”) to establish a CAD 2.0 billion legislative covered bond programme (“
Programme”) pursuant to the Canadian Registered Covered Bond Programs Guide, published by CMHC.
Under the Programme, Laurentian Bank may, from time to time, issue covered bonds (“
Covered Bonds”) under such terms and conditions as determined by Laurentian Bank at the time of issuance and in accordance with prevailing market conditions. The Covered Bonds to be issued by Laurentian Bank will have the benefit of an unconditional and irrevocable guarantee from LBC Covered Bond (Legislative) Guarantor Limited Partnership.