- Aggregate original principal amount: $200,000,000
- Coupon: 5.5%
- Interest Schedule: Payable semi-annually in arrears on May 28 and November 28 of each year (or if such day is not a business day, the next following business day) commencing on November 28, 2014.
- Maturity date: May 28, 2021
REDEMPTION
At any time prior to May 28, 2017, the Corporation may on any one or more occasions redeem up to an aggregate of 35% of the aggregate principal amount of 5.50% Senior Notes, upon not less than 30 days’ nor more than 60 days’ notice, at a redemption price of 105.50% of the aggregate principal amount of 5.50% Senior Notes redeemed, plus accrued and unpaid interest, if any, to the redemption date, with the net cash proceeds of one or more equity offerings; provided that: (i) at least 65% of the aggregate principal amount of 5.50% Senior Notes remains outstanding immediately after the occurrence of such redemption; and (ii) each such redemption occurs within 90 days of the date of the closing of the related equity offering.
At any time prior to May 28, 2017, the Corporation may on any one or more occasions redeem all or a part of the 5.50% Senior Notes, upon not less than 30 days’ nor more than 60 days’ notice, at the make-whole price which is equal to the greater of (a) the Canada yield price (as defined in the indenture governing the 5.50% Senior Notes) and (b) 101% of the aggregate principal amount of the 5.50% Senior Notes redeemed, plus accrued and unpaid interest, if any, to the date of redemption.
Except pursuant to the preceding paragraphs, the 5.50% Senior Notes are not redeemable at the Corporation’s option prior to May 28, 2017.
On or after May 28, 2017, the Corporation may, on any one or more occasions, redeem all or a part of the 5.50% Senior Notes upon not less than 30 days’ nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest, if any, on the 5.50% Senior Notes redeemed, to the applicable redemption date, if redeemed during the twelve-month period beginning on May 28, of the years indicated below:
Redemption Year |
Redemption Price |
2017 |
104.125% |
2018 |
102.750% |
2019 |
101.375% |
2020 and thereafter |
100.000% |