Canadian Tire

Short-Term Debt

Credit Facilities

C$ in millions (as at October 1, 2022) Retail CT REIT Financial Services
Committed bank lines1 $1,997 $300 $2,250
Less: Usage2 ($789) ($6) $0
Available bank lines $1,208 $294 $2,250
Lenders 7 Canadian + 4 International
Financial Institutions
7 Canadian Financial Institutions  Bank of Nova Scotia
Expiry date June 2027  September 2027 October 2025

Note: Helly Hansen has a 170 million Norwegian Krone (”NOK”) secured line of credit ($21.6 million Canadian dollar equivalent) provided by a Norwegian bank, expiring January 2023. As at October 1, 2022, Helly Hansen had no borrowings outstanding on its line of credit.

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

2CT REIT usage includes $5.9 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 Canadian dollar Equivalent OutstandingCredit Ratings
 U.S. $1.0 billion $789.3Credit Ratings