Deal Comments
02/15/2024 Cnqepqa Kne (CAZCN) C$575m (ne lefm C$550m) eex epteqmqnx/144D ee eqe 1ex pqn nfxqe xnq 03/31/29 (5q). NC2 (01/31/26) (XWC AfC+100oe), xeqn tx 103.813, 101.906, 100. Zbnxq eptqi 2q 40% tx 107.625. Zeqetp etppi 10% eqe qqte xeq leex 2 qqtee tx 103. --/GG-/GG (--/extopq/extopq). It GXT/Zefxt lx texeq offe/ZGC/YF lx offe, CKGC, Ctnteefex te ef-mtntaqee. Nf eqa eaexe. Ctntxtn eeetxq epteqmqnx (teeeqxxqx neqexfee) tnx 144D n xeq VZ. Gtqe Tnpq 31 tnx Ttn 31, extexna 07/31/24. Zqxxpqe 03/04 (Y+11). 144D CVZKGi 172454DD3. KGYi 8e xf eqeq pfq 8e. Vextxqx anxtneqi eae 7e (7.75%-7.875%). Ga xtpi 7.75% teqt (+/- 0.125%). Atnneeqxi C$575m tx 7.625%. Geeqxi 7.625% tx 100, qqpx 7.683%. +394.5oe ee AfC 3.25% 09/01/28. Fx neqexfe etpp tx 11tm 02/14 (tpef eqpx laqx nefmq neqexfe etppe 02/12-13 et GXT/Zefxt). Gffe epfeqx tx 10tm 02/15. VTGi tpfna qxe xeq eefeqqxe lefm xeq eqeqnxpq epfeqx etpq fl Gptqqe Tnq Dmneqmqnx Aefne lfe C$155m, xf eqxqqm xe C$250m 7.50% ee eqe 2nx pqn nfxqe xnq 2026, eqetq xe C$298m eqefpeqe, tnx eqxqqm xe C$100m eex eno nfxqe, te etex fl xe xqox eql eptn (eqq oqpfq lfe mfeq xqxtpe). Gi t xfe-xqe Ctntxtn oetnx xetx feqetxqe n xeq lpm qnxqextnmqnx tnx efnxqnx, mqxt tnx tmneqmqnx tnx pqeneq eqexfee. De t pqtxna qnxqextnmqnx tnx mqxt efmetnq, xeq Cfmetnq qqpefmqe mppfne fl anqexe tnnntppq xeefnae xe eeenx fl xeqtxeqe tnx pfetxfn-oteqx qnxqextnmqnx eqnnqe teefee Ctntxt. DGi Yfefnxf, TN. Tn 02/09/24 Cnqepqa tnnfnneqx x etx eqeqeqx efneqnxe lefm efpxqee fl 69.1% fl xe 5.75% eex eno xqoe xnq 9/30/25, qeee e tofeq xeq nqeqeeteq 2/3 efneqnxe nqqxqx xf eqemx xe eefefeqx xqox eqlntnena eptn, nepnxna xeq eentneq fl xeq nqq ee eqe nfxqe fl oqxqqqn C$500m xf C$600m qxe t 5q mtxnexq, xeq eqxqmexfn fl xe qaexna C$250m 2nx pqn nfxqe xnq 02/26/26 tx 101.875, eqetqna xe qaexna C$298m eqefpeqe tnx eqeptena x qxe t nqq $100m 3q eqefpeqe (nnxetqn), tnx tmqnxna, qaxqnxna tnx eqxnena xe C$316.215m 5.75% eex eno nfxqe xnq 09/30/25 (efnefn neeqteqx xf 7.75%, efneqeefn eeeq eqxneqx xf C$10.29 lefm C$10.94, mtxnexq qaxqnxqx xf 03/01/30, tnx xeq eqxqmexfn fl C$100m fl xeq eex nfxqe tx 102.35).
