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Canadian Tire
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Short-Term Debt

Credit Facilities

C$ in millions (as at April 1, 2023) Retail Financial Services CT REIT
Committed bank lines1 $1,998 $2,250 $300
Less: Usage2 ($996) ($165) ($164)
Available bank lines $1,001 $2,085 $136
Lenders 7 Canadian + 3 International
Financial Institutions		 Bank of Nova Scotia  7 Canadian Financial Institutions
Expiry date June 2027  October 2025 September 2027

Note: Helly Hansen has a 175 million Norwegian Krone (”NOK”) secured overdraft facility ($22.6 million Canadian dollar equivalent) provided by a Norwegian bank, expiring in January 2024. As at April 1, 2023, Helly Hansen had no borrowings outstanding on its facility.

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

2CT REIT usage includes $4.8 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 $996.4Credit Ratings