Loblaw to raise $340 million in debt sale

Brampton, Ontario Loblaw supermarket announced Thursday it would issue about $340 million in medium term notes, according to a report by Supermarket News.

The notes pay a fixed rate of 5.22% until maturity in June 2020. Proceeds of the sale would go toward pre-funding $350 million of indebtedness maturing in January 2011, the grocer said.