CA - Air Canada to purchase $266M of debt securities
- Air Canada ( OTCQX:ACDVF ) has announced the final results of its cash tender offer to purchase for cancellation up to US$300M of its outstanding 4.000% Convertible Senior Notes due July 1, 2025.
- An aggregate of US$266,053,000 principal amount of notes was validly deposited under the offer and not withdrawn prior to its expiration.
- Air Canada ( OTCQX:ACDVF ) has taken up and accepted for purchase and cancellation all such deposited notes at a purchase price of $1,220 in cash per $1,000 principal amount of notes, plus a cash payment in respect of all accrued and unpaid interest outstanding on such notes up to, but excluding, the date of take-up of the notes, for total consideration of ~$329.58M.
- Payment for such notes taken up and purchased by Air Canada under the offer is expected to be made on Dec. 20, 2022, but in any event, by no later than Dec. 22, 2022.
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Air Canada to purchase $266M of debt securities