The North West Company Inc.

The North West Company Inc.

June 09, 2009 11:39 ET

North West Company Fund Announces Terms of Senior Notes Offering

WINNIPEG, MANITOBA--(Marketwire - June 9, 2009) - North West Company Fund (TSX:NWF.UN) is pleased to announce the terms of a new senior notes offering. The Company is in the process of finalizing the private placement issuance of US$70 million 6.55% senior notes that will mature June 15, 2014. The proceeds of the senior notes offering, which is subject to the execution of a definitive agreement, are expected to be received on June 15, 2009. The proceeds will be used to repay the US$39 million 5.89% senior notes that mature on June 15, 2009, to reduce bank debt and for general corporate purposes. The new senior notes will be secured by the assets of the Company.

The North West Company is a leading retailer of food and everyday products and services to rural communities and urban neighbourhoods in Canada, Alaska, the South Pacific and the Caribbean. North West operates 225 stores under the trading names Northern, NorthMart, Giant Tiger, AC Value Center and Cost-U-Less and has annualized sales of CDN $1.4 billion.

The units of the Fund trade on the TSX Toronto Stock Exchange under the symbol "NWF.UN".

Contact Information