TORONTO, March 30, 2015 /CNW/ - Canadian Tire Corporation, Limited (TSX:CTC.A) (TSX:CTC) announced that, at a meeting today of holders (Noteholders) of its 6.25% medium term notes, series 2, due April 13, 2028 (the 2028 notes) and 6.32% medium term notes, series 2, due February 24, 2034 (the 2034 notes) issued pursuant to the terms of a Trust Indenture dated June 4, 1993 (as amended and supplemented to date, the 1993 Trust Indenture), the Noteholders approved certain amendments to the 1993 Trust Indenture and the related medium term notes. The amendments are set out in the Seventh Supplemental Trust Indenture dated as of March 30, 2015. As a result of the amendments, the interest rate on the 2028 notes will increase to 6.375% (from 6.25%) and the interest rate on the 2034 notes will increase to 6.445% (from 6.32%) effective March 30, 2015.
The Corporation believes that the amendments provide it with greater flexibility to manage and finance its business. The amendments 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.
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