TORONTO, March 2, 2015 /CNW/ - Canadian Tire Corporation (TSX:CTC,TSX:CTC.a) today announced that it has called a meeting of holders (Noteholders) of its 6.25% medium term notes due April 13, 2028 and 6.32% medium term notes due February 24, 2034 issued pursuant to the terms of a trust indenture dated June 4, 1993 (as amended and supplemented to date, the 1993 Trust Indenture), in order to consider amending the terms of such notes and the 1993 Trust Indenture. There are an aggregate principal amount of $350 million of such notes issued and outstanding on the date hereof.
CTC believes that the proposed amendments would provide it with greater flexibility to manage and finance its business. They would also reduce administrative inefficiencies by providing more consistent terms across all of the Corporation's medium term notes, including both those issued under the 1993 Trust Indenture and those issued under the Corporation's Trust Indenture dated March 14, 2005. The record date for determining Noteholders entitled to vote at the meeting is February 27, 2015 and the meeting date is March 30, 2015.
An information circular and related proxy materials will be mailed to Noteholders and will also be available on SEDAR at www.sedar.com.
About Canadian Tire Corporation
Canadian Tire Corporation, Limited, (TSX:CTC.A) (TSX:CTC) or "CTC," is a family of businesses that includes a retail segment, a financial services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal categories. PartSource and Gas+ are key parts of the Canadian Tire network. The retail segment also includes Mark's, a leading source for casual and industrial wear, and FGL Sports (Sport Chek, Hockey Experts, Sports Experts, National Sports, Intersport, Pro Hockey Life and Atmosphere), which offers the best active wear brands. The 1,700 retail and gasoline outlets are supported and strengthened by our Financial Services division and the tens of thousands of people employed across the Company. For more information, visit Corp.CanadianTire.ca.
SOURCE CANADIAN TIRE CORPORATION, LIMITED
For further information: Jane Shaw, 416-480-8581, [email protected]