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RONA announces US$150 million preferred shares public offering

Fasken
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Overview

Client

National Bank Financial and BMO Capital Markets

On February 1, 2011, RONA inc. (TSX:RON), Canada's largest distributor and retailer of hardware, renovation and gardening products, announced a $150 million public offering of 5.25% Cumulative 5-Year Rate Reset Series 6 Class A Preferred Shares. RONA has also granted the underwriters an option which, if exercised in full, will result in total gross proceeds of $172.5 million. The shares will be offered for sale to the public in each of the provinces of Canada pursuant to a short form prospectus to be filed with Canadian securities regulatory authorities in all Canadian provinces. The offering is scheduled to close on or about February 22, 2011.Fasken Martineau is advising the underwriters led by National Bank Financial Inc. and BMO Capital Markets in this transaction with a team that includes Gilles Leclerc, Gabriel Castiglio, Constantinos Ragas and Monica Dingle (securities) and Gilles Carli (tax).

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