October 09, 2018

CanWel Building Materials Group Ltd. Completes $60 Million Bought Deal Note Offering

Goodmans LLP represented CanWel Building Materials Group Ltd. (CanWel or the Company) (TSX:CWX) in connection with its completion of a $60 million bought deal offering of senior unsecured notes of the Company.

The offering was underwritten by a syndicate of underwriters led by National Bank Financial Inc., and included GMP Securities L.P., Canaccord Genuity Corp., CIBC World Markets Inc., Raymond James Ltd., RBC Dominion Securities Inc., and Haywood Securities Inc. The notes trade on the Toronto Stock Exchange under the symbol CWX-NT.A. The net proceeds of the offering are expected to be used for the repayment of bank debt and for general corporate purposes.

The Company granted the Underwriters an over-allotment option to purchase up to an additional $9 million aggregate principal amount of notes , exercisable in whole or in part for a period of up to 30 days following the initial closing. If the over-allotment option is exercised in full, an additional $9 million will be raised and the aggregate gross proceeds of the offering will be $69 million.

CanWel is headquartered in Vancouver, British Columbia and is Canada’s only fully integrated national distributor in the building materials and related products sector.

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