Canadian Tire

Short-Term Debt

Credit Facilities

C$ in millions (as at July 2, 2022) Retail CT REIT Financial Services
Committed bank lines1 $2,066 $300 $2,250
Less: Usage2 ($46) ($6) $0
Available bank lines $2,020 $294 $2,250
Lenders 7 Canadian + 4 International
Financial Institutions
7 Canadian Financial Institutions  Bank of Nova Scotia
Expiry date July 2026 ($1,850) / August 2024 ($125) / October 2022 ($90) 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 $45.2 million C$ equivalent each) provided by a Norwegian bank, expiring October 2022. As at July 2, 2022, Helly Hansen had $45.5 million of C$ equivalent borrowings (NOK 352.4 million) outstanding on its facilities.

 1Retail Borrowers include Canadian Tire Corporation, Limited and Helly Hansen Holding AS.

2CT REIT usage includes $6.4 million letters of credit outstanding under its committed bank lines.

 

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 $0Credit Ratings