Canadian Tire

Short-Term Debt

Credit Facilities

C$ in millions (as at January 2, 2021) Canadian Tire Corporation2 CT REIT Canadian Tire Bank
Committed bank lines $1,975 $300 $2,250
Less: Usage1 $0 ($6) $0
Available bank lines $1,975 $294 $2,250
Lenders 7 Canadian + 3 International
Financial Institutions
7 Canadian Financial Institutions  Bank of Nova Scotia
Expiry date August 2024 December 2024 October 2022

Note: Helly Hansen has a 350 million Norwegian Krone (”NOK”) secured revolving committed credit facility and a NOK 350 million factoring facility (both $51.9 million C$ equivalent) provided by a Norwegian bank which expire in October 2022. Helly Hansen had a total of $50.9 million of C$ equivalent borrowings (NOK 343 million) outstanding on its credit facilities as at January 2, 2021.

1CT REIT usage includes $5.6 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 January 2, 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.

Program Size US$ (C$ equivalent) Outstanding (as at January 2, 2021)Credit Ratings
 U.S. $1.0 billion $0Credit Ratings