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The North West Company Inc. Announces the Refinancing of its US$70 Million Senior Notes

WINNIPEG, MANITOBA -- (Marketwired) -- 06/06/14 -- The North West Company Inc. ("North West") (TSX: NWC) is pleased to announce the terms of the refinancing of its US$70.0 million 6.55% senior notes that mature on June 15, 2014. The refinancing will be completed by the private placement issuance of US$55 million 3.27% senior notes and US$15 million floating rate senior notes at LIBOR plus a spread. These senior notes will mature on June 16, 2021 and will be secured by a floating charge against the assets of the Company and rank pari passu with North West's other senior debt. Closing of the refinancing is subject to the satisfaction of customary conditions and is expected to occur on June 16, 2014 (June 15, 2014 is a non-business day).

Company Profile

The North West Company Inc., through its subsidiaries, 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 226 stores under the trading names Northern, NorthMart, Giant Tiger, AC Value Center and Cost-U-Less and has annualized sales of approximately CDN$1.5 billion. The common shares of North West trade on the Toronto Stock Exchange under the symbol NWC.

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