BRIEF-CWB announces $125 mln bought deal offering of common shares

Thu Jun 16, 2016 4:50pm EDT
 
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June 16 (Reuters) - Canadian Western Bank

* CWB announces $125 million bought deal offering of common shares

* Common equity Tier 1 ratio was 8.2 pct as of April 30, 2016

* Canadian Western Bank says underwriters have agreed to purchase, on a bought deal basis, an aggregate of 5.1 million shares at $24.50 per share

* Estimates that its common equity tier 1 ratio would be approximately 8.8 pct as at April 30, 2016 after giving effect to offering

* CWB Franchise finance portfolio purchase is expected to reduce CWB's common equity Tier 1 ratio by about 15 basis points when it closes in Q3 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)