Canadian Tire

Short-Term Debt

Credit Facilities

C$ in millions (as at March 30, 2024) Retail1 Financial Services CT REIT
Committed bank lines $2,997 $1,100 $300
Less: Usage2 ($870) ($17) ($3)
Available bank lines $2,127 $1,083 $297
Lenders 7 Canadian + 3 International
Financial Institutions
Bank of Nova Scotia  7 Canadian Financial Institutions
Expiry dates $1,975 June 2027, $1,000 May 2025, $22 January 2025 April 2025 September 2027

 1Retail borrowers include Canadian Tire Corporation, Limited and Helly Hansen AS. Helly Hansen has a 175 million Norwegian Krone (”NOK”) secured overdraft facility ($21.8 million Canadian dollar equivalent) provided by a Norwegian bank. As at March 30, 2024, Helly Hansen had no borrowings outstanding on this facility.

2Retail usage includes the back-stop of $869.7 million Canadian dollar equivalent of U.S. commercial paper outstanding (see below). CT REIT usage includes $3 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 (CP) 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 CP issuance made under this 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 $869.7Credit Ratings