Credit Facilities
Note: Helly Hansen has a 350 million Norwegian Krone (”NOK”) secured committed bank line of credit and a NOK 350 million factoring facility (both $51.6 million C$ equivalent) provided by a Norwegian bank which expire in October 2022. A total of $42.1 million of C$ equivalent borrowings (285.4 million NOK) was outstanding on these bank lines as at April 3, 2021.
1CT REIT usage includes $5.8 million letters of credit outstanding under its committed bank lines.
2Provided by five Canadian financial institutions, CTC has $710 million in committed bank lines. In Q4 2020, the expiry date was extended to June 30, 2022. There were no borrowings as at April 3, 2021.
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.