An anonymous director reports

METRO INC. ANNOUNCES CLOSING OF AGGREGATE C$300 MILLION SENIOR UNSECURED NOTES OFFERING

Metro Inc. has closed the previously announced private placement offering of $300-million aggregate principal amount of 4.657 per cent Series K senior unsecured notes due Feb. 7, 2033.

The Series K notes are being offered through an agency syndicate consisting of BMO Capital Markets, National Bank Financial Inc. and RBC Dominion Securities Inc. as co-lead managers and joint bookrunners, and CIBC World Markets Inc., Desjardins Securities Inc., Scotia Capital Inc., TD Securities Inc. and Casgrain & Company Ltd. as co-managers.

The Series K notes, which carry a coupon of 4.657 per cent, were priced at $1,000 per $1,000 principal amount, for an effective yield of 4.657 per cent per annum if held to maturity.

Metro intends to use the proceeds of the offering to repay existing indebtedness under its revolving credit facility and for general corporate purposes.

Considering the bond forward contracts previously entered into, Metro estimates that the effective blended interest rate of the Series K notes will correspond to approximately 4.71 per cent per annum.

The Series K notes are direct unsecured obligations of Metro and rank pari passu with all other unsecured and unsubordinated indebtedness of Metro.

The Series K notes are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation and are rated BBB with a positive trend by DBRS Ltd., and BBB by Standard & Poor's ratings services.

About Metro Inc.

With annual sales of more than $19-billion, Metro is a food and pharmacy leader in Quebec and Ontario, providing employment to more than 95,000 people. Its purpose is to nourish the health and well-being of its communities. As a retailer, franchisor, distributor, manufacturer and provider of e-commerce services, the company operates or services a network of 975 food stores under several banners, including Metro, Metro Plus, Super C and Food Basics, and 645 drugstores primarily under the Jean Coutu, Brunet, Metro Pharmacy and Food Basics Pharmacy banners.

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