First West Credit Union closed a $150 million senior deposit note offering with a final order book of $615 million
Summary
LANGLEY, British Columbia, April 15, 2025 (GLOBE NEWSWIRE) First West Credit Union (First West) a leading Canadian financial co-operative, announced that it closed its offering (the Offering) of $150 million aggregate principal amount of fixed rate senior deposit notes due on March 24, 2027 (the Notes). Were proud of this strong endorsement what started as a $150 million offering closed with a final order book of $615 million over four times oversubscribed.First West Credit Union is in the advanced stages of its pending federal continuance and remains fully committed to becoming a federal credit union. While we wait for approval, First West will continue to navigate with strength through this economic environment while supporting our members in the weeks and months ahead.CIBC World Markets and Scotia Capital acted as joint bookrunners. McCarthy Tetrault acted as external legal counsel to First West and Stikeman Elliott acted as legal counsel to the bookrunners and co-managers.First West Credit Union brings together the best of both worlds, combining the scale, stability and solutions of a leading Canadian financial institution with the care and community leadership of a local cooperative. When used in this news release the words "may", well-positioned, working, "to be", becoming, anticipates, "will" and similar expressions are intended to identify forward-looking statements.