CA - Air Canada launches offer to purchase $300M of convertible notes

• Air Canada ( OTCQX:ACDVF ) has launched a cash tender offer to purchase for cancellation up to US$300M of its outstanding 4.000% Convertible Senior Notes due July 1, 2025.
• The notes will be purchased at $1,220 in cash per $1,000 principal amount of notes, plus a cash payment in respect of all accrued and unpaid interest on such notes up to, but excluding, the date on which such notes are taken up by Air Canada ( OTCQX:ACDVF ) pursuant to the offer.
• The offer will expire at 11:59 pm (Montreal time) on Dec. 19, 2022, unless extended, varied or withdrawn by the company.
• Any purchases of notes pursuant to the offer will be funded from available cash on hand.
• As of Nov. 11, 2022, there was $540.2M principal amount of notes issued and outstanding.

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