Canadian Western Bank ("CWB") announced it had planned to issue $250 million of 5.949% Series I Subordinated Debentures due January 29, 2034, through a syndicate led by RBC Capital Markets, Scotiabank, and TD Securities. The debentures, part of the Non-Viability Contingent Capital (NVCC), were expected to close around January 29, 2024. Interest on these debentures was to be paid semi-annually at a rate of 5.949% per annum until January 29, 2029, switching to a quarterly coupon rate of Daily Compounded CORRA plus 2.73% until their maturity on January 29, 2034. CWB reserved the right, with regulatory approval, to redeem the debentures partially or in full after January 29, 2029, with appropriate notice. The net proceeds were aimed to support CWB's general corporate purposes, with plans to file a prospectus supplement to its June 1, 2022, base shelf prospectus across Canada. The debentures were not to be registered under the U.S. Securities Act of 1933 and were restricted from sale in the U.S. to certain exempt transactions, highlighting the offering's limitation to U.S. investors.