New Issue: Hudson's Bay sells C$120 million 4.5-year notes to yield 7½%

By Paul A. Harris

St. Louis, Dec. 3 - Hudson's Bay Co. priced C$120 million of unsecured medium-term notes due June 15, 2007 (BB+) at par to yield 7½%, according to a Wednesday press release.

Underwriter Scotia Capital led the deal. Other underwriters included CIBC World Markets, RBC Capital Markets, BMO Nesbitt Burns Inc., National Bank Financial, TD Securities and HSBC Securities (Canada) Inc.

The issuer is a Toronto-based department store retailer.

Issuer:	Hudson's Bay Co.
Amount:	C$120 million
Maturity:	June 15, 2007
Security description:	Unsecured medium-term notes
Coupon:	7½%
Price:	Par
Yield:	7½%
Rating:	S&P: BB+
Lead underwriter:	Scotia Capital
Underwriters:	CIBC World Markets, RBC Capital Markets, BMO Nesbitt Burns Inc., National Bank Financial, TD Securities, HSBC Securities (Canada) Inc.
Settlement date:	Dec. 10, 2003

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