Examples of 4.75% Debentures in a sentence
The 4.75% Debentures are classified as level 1 within the fair value hierarchy.
The 4.75% Debentures are not redeemable by the Corporation before April 30, 2013.
The 4.75% Debentures have a face value of $1,000 each, bear interest at the rate of 4.75% per annum payable semi-annually in arrears on the last day of April and October of each year commencing on October 31, 2010 and mature on April 30, 2015 (the “Maturity Date”).
The 4.75% Debentures are listed and posted for trading on the TSX under the symbol “BXE.DB.A”.As the 4.75% Debentures are convertible into common shares, the liability and equity components are presented separately.
The 4.75% Debentures are convertible at the holder’s option and at any time prior to the close of business on the earlier of the close of business on the business day immediately preceding the Maturity Date and the date specified by the Corporation for redemption of the 4.75% Debentures into common shares of the Corporation at a conversion price of $5.60 per common share (the “Conversion Price”), subject to adjustment in certain events.
On and after April 30, 2014, the 4.75% Debentures are redeemable at the Corporation’s option, in whole or in part, at any time at par plus accrued and unpaid interest.
On and after April 13, 2013 and prior to April 30, 2014, the 4.75% Debentures are redeemable at the Corporation’s option, in whole or in part, at par plus accrued and unpaid interest if the weighted average trading price of the common shares for the specified period is not less than 125% of the Conversion Price.
Includes $0.4 million of accrued coupon interest payable in relation to the 4.75% Debentures and $0.2 million of accrued interest payable in relation to the credit facilities is included in Accounts Payable and Accrued Liabilities.
The 4.75% Debentures outstanding at December 31, 2012 bear interest at a coupon rate of 4.75% per annum, which currently requires total annual interest payments of $2.6 million.
Share Capital and Subordinated Indebtedness On December 13, 2007, CIBC announced that on January 21, 2008 it would redeem, at par plus accrued and unpaid interest, all $250,000,000 of its 4.75% Debentures due January 21, 2013.