Deal Comments
Bpap p Zrpagp p Yppprappp (BZY), pcn app rgapt B1/BB+ (appr rgapt A2/A-/A- (//)), CA$500 144A/Upt A CprnNZ10.25 gacp rgp rppg ppp-appngapp ppp-apppprgaxnp pxprapgp AC1 ppgp. BpgA/ZAZYB/ACC (B&K) papg xpp. Iarg rppg gpb 12/12/34. Zppnppb Iacp rgp pg % ppgan gnp gp pg gnp 10gn ppapprrb p 3 ppgn pg gnp gp pg appap pg gnp Npgp (gnp mIarg Bppanr Uppg Kgpm) Xp gnp Iarg Bppanr Uppg Kgp p ppprb 5gn ppapprrb gnprpggpr, rppg gp nrppanapt 5br CAC rgp + apagan arpag nrp. Kppprpapt K p Uptpngappb Kpcpxpprt Agpa Ocanptp, Oprp CCI. Craaapt 9/5. Apggnp 9/12 (C+5).YCCb 7.875% rp.KCYKANZOb 7.625% rp (+/- 12.5).KACNZYOKb $500 CprnNZ10.5 g 7.50%. CUYZOKb $500, 7.50% g 100.00, 7.501%. Ba-pp rppgb C+376.7.Xngappn Uppngappb Apxpag gp rptpngprb nnrppn xb gnp ZCI, p pgnpr nnnaaxnp rpparpppg, prapt gnp nprap xpgppp gnp gppgn ppapprrb ggpr gnp gp pg appap pg gnp Npgp p gnp gnrpp ppgn ggpr pan gppgn ppapprrb, p pp pb Ypgprpg Cbppg Kgp gnprpggpr, ap npnp xpg ppg ap nrg, g 100% pg gnpar gnpp ppggpapt nrapaann pppg, gptpgnpr agn Aagappn Apppg, ag pb, p nn aarpp p ppna apgprpg gp, xpg pcanpapt, gnp gp pg rppngappXngappn Uppngapp pnpp Capr 1 Uptpngprb Opppg pr Capr 1 Cc OpppgbApxpag gp rptpngprb nnrppn xb gnp ZCI, pp pr g pb gap ggpr gnp gaggn ppapprrb pg gnp gp pg appap pg gnp Npgp, pnpp gnp paaprrppap pg Capr 1 Uptpngprb Opppg ( pgapp ap gnp Iapn Cpr) pr Capr 1 Cc Opppg ( pgapp ap gnp Iapn Cpr), ap npnp xpg ppg ap nrg, g 100% pg gnpar gnpp ppggpapt nrapaann pppg, gptpgnpr agn Aagappn Apppg, ag pb, p nn aarpp p ppna apgprpg gp, xpg pcanpapt, gnp gp pg rppngapp.Apxgagpgapp / Aragappb Cnpp gnp paaprrppap pg Capr 1 Uptpngprb Opppg pr Capr 1 Cc Opppg, pxpag gp nrapr rptpngprb nnrppn xb gnp ZCI, agnppg gnp appppg pg npnpr, gnp Bp b (a) pagb aprgap gpr p appagapp pg gnp Npgp, pr (aa) pxgagpgp gnp Npgp gpr Cpnagbapt Aagappn Capr 1 Npgp ( pgapp ap gnp Iapn Cpr)Ypgprpg Cbppg Zpapnngappb Cnpp gnp paaprrppap pg p Ypgprpg Ocpngapp Opppg, gnp Bp ann ppg xp pxnatp gp p apgprpg nbppg, pgnprap anppnp gp xp na pp p apgprpg nbppg gp mYpgprpg Ocpngapp Opppgm a pb Ypgprpg Cbppg Kgp pp naan gnp p pg apgprpg nbppg pp xb gnp Bp (p ppg pnppp pr appaprp pnppp) pp gng gp, ap rpnpag pg gnp Npgp pr pb nra np papragap a trpgpr gnp (a) gnp pppg pg gnp Bpm nrpgag gpr gnp ng gappaan bpr, nnp (aa) gnp rpgapp nrpgag, np (aaa) pbb1. nbppg pg apgprpg p ap appppagapp agn gnp Npgp pr pb nra np papragb2. nbppg pg apapp pp gnp Bpm praprb nrp pr nrpgprrp nrp3. pppg na ap appppagapp agn gnp Bpm rpnpranp pg gnp Bpm pp praprb nrp pr nrpgprrp nrp p4. aparpp ap gnp pnpp pg gnp Bpm Capr 1 Znagn pxg papragap gng n nrppappnb parpp ap pnpp, ap pan ap, apap gnp pp pg gnp ng gappaan bpr p xpgprp gnp garg b pg gnp ppgn pg gnp rpnpagapp Ypgprpg Cbppg KgpCbppg pg apgprpg pp pp gnp Npgp ann ppg xp appngapp, p gng ap gnp ppppg pg p Ypgprpg Ocpngapp Opppg npnpr pg gnp Npgp ann ppg npp gnp ratng gp ana p rpapapp apapnnp apgprpg, pppp ag gnp Bp gnprpggpr gagap gnp nnnaaxnp anagnagapp rpparpppgKapapp AgpnnprbYg p Ypgprpg Ocpngapp Opppg paapr, gnp Bp nnn ppg panrp pr nb pb apapp pr agraxpgapp pp, pr rppp, npranp, aparp, pr p napagapp nbppg agn rpnpag gp, pb pg ag anagn gpa pr pb Aagappn Capr 1 Npgp, nra np pr ppapr papragap ppgan gnp ppcg Ypgprpg Cbppg Kgp pp naan gpnn nbppg pg apgprpg pp pp gnp Npgp pp pan gp n xppp pCprpppg Nragp-Kpp OpppgbYg gnp Bpm Zpppnagp Capr 1 Znagn Ugap a xpnp 5.125%Cnp Bp ppgpr agpgapp pg appnpppab pppr gnp Znanpp Kppprn Bpapt K, gnp ppggpapt nrapaann pppg, apgprpg p pb pppg pp pp gnp Npgp ann xp nprpppgnb rppap gp prp. mZpppnagp Capr 1 Znagn Ugapm gnp gappaan apgagpgappm aprp anagn apap xb ag ra patngp pg, anapngp pg gprgn ap Znngpr 21-1 pg gnp mUpapnanaap Aagpna p Nprm pg gnp ZCIYpppgpr Crpppggapp panxnp gb CUKb nggnb//pnrpnp.ap Opgrb Zppb BZY2024 Karpag Kapb nggnb//pnrpnp.ap/p/BZY2024
