Canadian Tire

Short-Term Debt

Credit Facilities

C$ in millions (as at April 2, 2022) Canadian Tire Corporation3 CT REIT Canadian Tire Bank
Committed bank lines1 $1,975 $300 $2,250
Less: Usage2 ($278) ($6) $0
Available bank lines $1,697 $294 $2,250
Lenders 7 Canadian + 3 International
Financial Institutions
7 Canadian Financial Institutions  Bank of Nova Scotia
Expiry date July 2026 ($1,850) / August 2024 ($125) September 2026 October 2024

Note: Helly Hansen has a 350 million Norwegian Krone (”NOK”) secured line of credit and a NOK 350 million factoring facility (totaling $50.1 million C$ equivalent each) provided by a Norwegian bank, expiring October 2022. As at April 2, 2022, Helly Hansen had $54.2 million of C$ equivalent borrowings (NOK 379.2 million) outstanding on its facilities.

 1For further information about this measure see section 5.5 of the Company's MD&A for the fourth quarter and full-year ended January 1, 2022, which is available at www.sedar.com, and incorporated by reference herein.

2CT REIT usage includes $6.0 million letters of credit outstanding under its committed bank lines.

3Provided by a syndicate of five Canadian financial institutions, $710 million in an unsecured line of credit is available to CTC for general corporate purposes, expiring in June 2022. As at April 2, 2022, CTC had no borrowings under this line of credit.

 

U.S. Commercial Paper

Canadian Tire Corporation, Limited (CTC) has a U.S. dollar-denominated commercial paper program that allows it to issue up to a maximum aggregate principal amount of US$1.0 billion of short-term promissory notes into the U.S. Tier 2 market. CP can be issued under this program with terms to maturity ranging from one to 270 days. Any issuance made under the program will rank equally in right of payment with all other  unsecured and unsubordinated obligations to creditors of CTC.

Program Size C$ Equivalent OutstandingCredit Ratings
 U.S. $1.0 billion $278Credit Ratings