Deal Comments
Stt Zzhns Dtns m Yhzhr Ohn Tmm Whtm Qfmth ImtlgDBd S mzhts m h E$.lgEmo 25, 2022d OTZTDOT--(BYSWDQSS CWZQ)--lgStt Whthmthm Emth (ixySttixe t ixyEmthixe) (OSOdS) zhns ns (t ixyDtnsixe) m t Emthixs tstmhnhr() 8.50% sh shhn h shn hts n 2026 (t ixyShn Dtsixe) mhn () 10.75% hshn UWT th hts n 2029 (t ixyWh Dtsixe, mhn hhto t t Shn Dts, t ixyDtsixe) m t htm fmth nmt m Wh 1, 2022 (t ixyWhtm Qfmth Imtixe) m t Emthixs so mhhhhn znmn Ith mhth h sht m t Shn Dts (t ixyShn Dts Ith Shthixe) mhn mfn h thn mm h sht m t Wh Dts (t ixyWh Dts Yfn Uh Ohn Tmmixe mhn, trt t t Shn Dts Ith Shth, t ixyTmmsixe t ixyOmhsmhthixe) m mrrrmt hms hhsnmth m t $50 zh (t ixyEmfzz Ehsnmth Szhtixe),lg fhs m mhhn mhn hmn htst h t hmsn Shn lgDts. O Whtm Qfmth Imt mhn mnnthm mtn hmzmth lgt sht t t Tmms ms so mhhhhn o t Emth lgh ts hs ms ssn h Emo 11, 2022 (t ixyEmo 11 Ds Zmsixe).lglglgSs mt nshn h Sttixs Tmm t Uhms nmtn Emo 11, 2022 (t ixyUhms Tmmixe)lg mhn t Emo 11 Ds Zms, t Tmms f mt 5d00 .z. (Oht lgtz) h t Whtm Qfmth Imt, hss t Tmms m fthnn o lgStt t 5d00 .z. (Oht tz) h Wh 15, 2022 (t ixyQfthnn Qfmth Imtixe),lg ms sh nmt mhn tz zmo fthnn m tzhmtn o lgStt. Dtns tmt mno thn mhn n ht tnm t lgDts t 5d00 .z. (Oht tz) h t Whtm Qfmth Imt, lgms sh nmt mhn tz zmo fthnn m tzhmtn o Stt,lg mhn s Dts m hmsn o Stt smht t t mhm lgTmm, httn t mnnthm hms hhsnmth m $30 lg$1,000 m hhm mzht m hmsn Dts (t ixyWhtm Umthmth Ehsnmth Szhtixe)lg m t hms m sh Dts, mom h t mhm sttzht lgnmt (ms nshn h t Uhms Tmm). Dtns sn tlg Uhms Tmm h ntm m mnnthm hmzmth.lglglgUsmht t t Omhsmhth, Stt hms mho Wh Dts lgmno thnn smht t t Wh Dts Yfn Uh Ohn Tmm lgmhn ht tnmh t 5d00 .z. (Oht tz) h t Whtm lgQfmth Imt (t ixyWhtm Wh Dts Uhmsixe), sht tlg t tzs mhn hhnths st mt h t Uhms Tmm, mhn th mlg t th t hms Shn Dts mno thnn mhn ht tnmhlg smht t t Shn Dts Ith Shth t 5d00 .z. (Ohtlg tz) h t Whtm Qfmth Imt (t ixyWhtm Qfmth Shn Dts Uhms Tthixe),lg sht t () Sttixs smtsmmhth t t Emhr Uh (ms lgnmhn mhn nshssn h t Uhms Tmm) m sh Shn Dts, lg() t Emfzz Ehsnmth Szht (tmhr ht mhhht t Whtm lgWh Dts Uhms) mhn () t tzs mhn hhnths st mt h lgt Uhms Tmm. O sttzht nmt m mho Dts hmsn o lgStt smht t t Whtm Wh Dts Uhms mhn/ t lgWhtm Qfmth Shn Dts Uhms Tth t nmt tmt lgs t shss nmos mmt t Whtm Qfmth Imt. Wh Dts lgmno thnn mhn ht tnmh t 5d00 .z. (Oht tz) h lgt Whtm Qfmth Imt m to h mhhtmhh lgShn Dts mno thnn mhn ht tnmh t t Whtm lgQfmth Imt.lglglgWm Stt fhss t Whtm Qfmth Shn Dts Uhms lgTth, t Omhsmhth sm ht fthnn mst t Whtm lgQfmth Imt t t Qfthnn Qfmth Imt. Wm Stt ns ht lgfhs t Whtm Qfmth Shn Dts Uhms Tth, Stt lghmh fthn t Tmms mst t Whtm Qfmth Imt t t Qfthnn lgQfmth Imt, ms zmo mt fthnn m tzhmtn o lgStt ms nshn h t Uhms Tmm.lglglgDtns tmt n ht mno thn t Dts t t Whtm lgQfmth Imt sm ht httn t h t Whtm lgUmthmth Ehsnmth Szht mhn ht m m mt lgthto t thn t Dts m Stt fhss t Whtm lgQfmth Shn Dts Uhms Tth mhn ns ht fthn t Tmms lgmst t Whtm Qfmth Imt.lglglgO Omhsmhth s sht t t tzs mhn hhnths nshn h t lgUhms Tmm. O m nmts mhn tzs m sht, mhm,lg t t rt m Stt t fthn, h, mzhn mhn/ tzhmt t lgTmms, sht t mhm ms. Dtns sn mm tmt lgt , nm, hzzhm mh, tst hzmho t lghtznmo (mh mh ixyWhtznmoixe) stms t h m lgnmnhs m mthmth h, tnmm mz, t Tmms. Dtns m hhmrn t hhtmht t Whtznmo nhto t hhmz mho sh hthm nmnhs.lglglgSnnthm hmzmth mthr t t Whtm Qfmth Imt mhn t lgOmhsmhth s st t h ntm h t Emo 11 Ds Zms mhn t lgUhms Tmm.lglglgDmthm Bmh Yhmhhm Emts (DBY.EmtmEmts@hh.hm (416) 869-8635) s mhthr ms nm zmhmr, Thrsnm Snss (hhtmhts@hrsnmmnss.hzlg 1-800-749-9052) s mhthr ms nstmo mhn ms hmzmth mrht, lgmhn Rnzmhs DDU s mhthr ms Sttixs rm mns h hhhhth lgt t Omhsmhth. S ho m t Uhms Tmm zmo tmhn o lghhtmhthr Dmthm Bmh Yhmhhm Emts Thrsnm Snss mt t lgm hhtmht hmzmth.lglglgO Tmms m zmn ho o mhn smht t t tzs m t Uhms lgTmm mhn t hmzmth h ts hs ms s mmn o mhhlg t t Uhms Tmm. Dh m Stt, Dmthm Bmh Yhmhhm lgEmts Thrsnm Snss zm mho hzzhnmths ms t t lgns sn thn tn t Dts smht t t Tmms. lgStt zmo mzhn, fthn tzhmt t Tmm h ts s lgnshth mhn sht t mhm m.lgStt Shhhhs Enmn Ith Shth t Uhms Shnlg Dts mhn Yfn Uh Ohn Tmm t Uhms Wh Dts m lgSrrrmt E$50zlg Emo 11, 2022d OTZTDOT--(BYSWDQSS CWZQ)--lgStt Whthmthm Emth (ixySttixe t ixyEmthixe)lg (OSOdS), m n mn h t zhhr mhn onztmrhm mhhr lgm hh mhn hmt mz mtth s, mhhhhn tnmo t lghzzhhzht m mms t hms () ts tstmhnhr 8.50% sh lgshhn h shn hts n 2026 (t ixyShn Dtsixe) smht t m znmn Ith mhth hss (t ixyShn Dts Ith Shthixe) mhn () ts tstmhnhr 10.75% hshn UWT th hts n 2029 (t ixyWh Dtsixe, mhn hhto t t Shn Dts, t ixyDtsixe) smht t m mfn h thn mm hss (t ixyWh Dts Yfn Uh Ohn Tmmixe mhn, trt t t Shn Dts Ith Shth, t ixyTmmsixe t ixyOmhsmhthixe) m mrrrmt hms hhsnmth m t $50 zh (t ixyEmfzz Ehsnmth Szhtixe), fhs m mhhn mhn hmn htst h t hmsn Shn Dts.lglglgStt hthns t mhmhh t Omhsmhth mz ts mmm hms. lgStt zmo hhms nhms t Emfzz Ehsnmth Szht mt lgmho tz t t Qfthnn Qfmth Umozht Imt (ms nmhn lg) h ts s nshth, mhn zmo s ts mmm hms mhn/ lgs t ms mnnthm mhns h n t hhms t Emfzz lgEhsnmth Szht. S mzhts m h Emhmnmh hhho hss lgts htn.lglglgixyO hhm s m t Omhsmhth s m Stt t nh ts lgtstmhnhr nt mhn n hm-tz nto t htns lgh zmo ht mmm ts. Sttixs mzmhh h 2021 mhnlg t mst mt m 2022, hn t fhtn hms ms, ns lgmh thto m Stt t s ts rt stmtro, hhnhr tlg fmhsh mt t Em Wht Tht, ms hhthhr ts mmts lgt nh nt t mh mmhh st sthrt,ixe smn Dh Bhn, lgUsnht mhn EQT m Stt. ixyC zmh hzzttn t rhmthr m lgm mhn mhthr h t st htsts m stmns.ixelglglg lg Ehsnmth hn t Tmmslg lglglgO mhr tm sts t t Dts mhn htmh mozht tzs hn t Tmms, h m nshssn mt dlglglg lg lg Dtslg lg lg EYSWU Dzlg lg lg UhhmlgSzhtlgTtstmhnhrlg lg lg Omhsmhth Uhsslg lg lg Emfzz EmslgEhsnmthlg $1,000lghhm mzhtlg lg lg Emfzz EmslgEhsnmth lg$1,000 hhm mzht,lghhnhr t WhtmlgUmthmthlgEhsnmth Szhtlg lg lg lg lgShn Dtslglg lg823901SE5lglg lg$ 350.5 zhlglg lgEnmn Ith Shthlglg lg$820(1)lg lg$850(1)lg lg lg lgWh Dtslglg lg823901SD3lglg lg$ 87.0 zhlglg lgYfn Uh Ohn Tmmlglg lg$520lglg lg$550lglg lglglg lg lg(1)lglg lgBmsn h t Emfzz Shn Dts Bn Uh (ms nmhn ), mhn lgsht t ntzhhr t Emhr Uh (ms nmhn ) smht tlg t Shn Dts Ith Shth hss.lglg lglglg Shn DtslglglgO Shn Dts hn $1,000 m hhm mzht m lgShn Dts ms ntzhn o m znmn Ith Shth hss o lgns zmo shmo t t zhzz hms h to m hr lgt h m mh $1,000 m hhm mzht m t Shn Dts (mlg ixyBn Uhixe) mhht t hms h m t Shn Dts lgntzhn o Stt smht t t tzs m t Shn Dts Ith lgShth (t ixyEmhr Uhixe), ms nshn h t Uhms lgTmm (ms nmhn ), s, mhm, t Whtm lgUmthmth Ehsnmth Szht (ms nmhn ) m $30 $1,000 lgm hhm mzht m Shn Dts. Bn Uhs shmn m t lgShn Dts zst ss tmh m t $820 $1,000 m hhmlg mzht m Shn Dts (t ixyEmfzz Shn Dts Bn Uhixe).lg Bn Uhs h fhss m t Emfzz Shn Dts Bn Uh ht lg mhhtn sn m t ss m ntzhhr t Emhr Uh. Wmlg hh m t ns tmt thn Shn Dts smht t t Shn lgDts Ith Shth shmo m Bn Uh, t Emhr Uh t lgEmfzz Shn Dts Bn Uh. Ens s Shn Dts m lghmsn o Stt smht t t Shn Dts Ith Shth lgms httn t mn h hms mho mhhn mhn hmn htst mzlg t mst htst mozht nmt t, t ht hhnhr, t mhmlg Umozht Imt (ms nmhn ).lglglg Wh DtslglglgO hms h m t Wh Dts smht t t Wh Dts lgYfn Uh Ohn Tmm s m mfn h m $520 $1,000 m lghhm mzht m Wh Dts (t ixyWh Dts Yfn Uhixe)lg s, mhm, t Whtm Umthmth Ehsnmth Szht lgm $30 $1,000 m hhm mzht m Wh Dts. O hms lgh m t Wh Dts smht t t Wh Dts Yfn Uh lgOhn Tmm ntzhn o Stt tms ht mhhht m mhhn lghtst mz t mst htst mozht nmt ms mt m t m lghms h. Shhn htst h sht m t Wh Dts htlg mn h sht m mho Wh Dts hmsn o Stt smht lgt t Wh Dts Yfn Uh Ohn Tmm. Wh Dts tmt m lgmno thnn mhn ht tnmh m to h mhhtmhh lg Shn Dts mno thnn mhn ht tnmh ms nshssn h lgmt ntm .lglglg Snnthm Whtm Umthmth EhsnmthlglglgEns m Dts tmt mno thn mhn n ht tnm t Dts t 5d00 .z. (Oht tz) h Wh 1, 2022 (t ixyWhtm Qfmth Imtixe),lg ms sh nmt mhn tz zmo fthnn m tzhmtn o lgStt, mhn s Dts m hmsn o Stt smht t t lgmhm Tmm, httn t mnnthm hms hhsnmth m lg$30 $1,000 m hhm mzht m hmsn Dts (t ixyWhtm Umthmth Ehsnmth Szhtixe), mom h t mhm Umozht Imt.lglglg lg Ozh mhn Uhss m t Tmms Uto m Dts Uhmsslg lglglgO Tmms h m thn hzzhhhr ms m 9d00 m.z. (Oht lgtz) h Emo 12, 2022, mhn f mt 5d00 .z. (Oht tz) h lgt Whtm Qfmth Imt, hss t Tmms m fthnn o Stt lgt 5d00 .z. h Wh 15, 2022 (t ixyQfthnn Qfmth Imtixe, mhn trt t t Whtm Qfmth Imt, t ixyQfmth Imtsixe mhn mh mh ixyQfmth Imtixe), ms sh nmt mhn tz zmo fthnn m tzhmtn o Stt ms nshn h t Uhms Tmm.lglglgWh Dts mno thnn mhn ht tnmh t 5d00 .z. lg(Oht tz) h t Whtm Qfmth Imt m to h lgmhhtmhh Shn Dts mno thnn mhn ht tnmh lgt t Whtm Qfmth Imt. Usmht t t Omhsmhth, Stt lg hms mho Wh Dts mno thnn smht t t Wh lgDts Yfn Uh Ohn Tmm mhn ht tnmh t 5d00 .z. lg(Oht tz) h t Whtm Qfmth Imt (t ixyWhtm Wh Dts Uhmsixe),lg sht t t tzs mhn hhnths st mt h t Uhms Tmm, lgmhn th m t th t hms Shn Dts mno thnn mhn lght tnmh smht t t Shn Dts Ith Shth t 5d00 lg.z. (Oht tz) h t Whtm Qfmth Imt (t ixyWhtm Qfmth Shn Dts Uhms Tthixe),lg sht t () Sttixs smtsmmhth t t Emhr Uh m shlg Shn Dts, () t Emfzz Ehsnmth Szht (tmhr ht lgmhhht t Whtm Wh Dts Uhms) mhn () t tzs mhn lghhnths st mt h t Uhms Tmm. O sttzht nmt m mho lgDts hmsn o Stt smht t t Whtm Wh Dts lgUhms mhn/ t Whtm Qfmth Shn Dts Uhms Tth lg t nmt tmt s t shss nmos mmt t Whtm lgQfmth Imt (t ixyWhtm Qfmth Umozht Imtixe).lglglgWm Stt fhss t Whtm Qfmth Shn Dts Uhms lgTth, t Omhsmhth sm ht fthnn mst t Whtm lgQfmth Imt t t Qfthnn Qfmth Imt. Wm Stt ns ht lgfhs t Whtm Qfmth Shn Dts Uhms Tth, Stt lghmh fthn t Tmms mst t Whtm Qfmth Imt t t Qfthnn lgQfmth Imt, ms zmo mt fthnn m tzhmtn o lgStt ms nshn h t Uhms Tmm.lglglgSho mnnthm Wh Dts mno thnn mhn ht tnmh t lg5d00 .z. (Oht tz) h t Qfthnn Qfmth Imt m lgto h mhhtmhh Shn Dts mno thnn mhn ht lgtnmh t 5d00 .z. (Oht tz) h t Qfthnn Qfmth lgImt (hhnhr, m hmto, mho Shn Dts tmt zmo m h lgmno thnn t t Whtm Qfmth Imt mhn ht lgtnmh). Usmht t t Omhsmhth, m t Tmms m fthnn o lgStt t t Qfthnn Qfmth Imt, Stt hms mho lgmnnthm Wh Dts mno thnn mhn ht tnmh smht t lgt Wh Dts Yfn Uh Ohn Tmm t 5d00 .z. (Oht lgtz) h t Qfthnn Qfmth Imt (t ixySnnthm Wh Dts Uhmsixe),lg sht t t tzs mhn hhnths st mt h t Uhms Tmm, lgmhn th m t th t mh Shn Dts mno thnn mhn lght tnmh smht t t Shn Dts Ith Shth t 5d00 lg.z. (Oht tz) h t Qfthnn Qfmth Imt (t ixySsht Shn Dts Uhms Tthixe),lg sht t () Sttixs smtsmmhth t t Emhr Uh m shlg Shn Dts, () t Emfzz Ehsnmth Szht (tmhr ht lgmhhht t Whtm Wh Dts Uhms mhn Snnthm Wh Dts lgUhms) mhn () t tzs mhn hhnths st mt h t Uhms lgTmm. O sttzht nmt m mho Dts hmsn o Stt smht lgt t Snnthm Wh Dts Uhms mhn t Ssht Shn Dtslg Uhms Tth t nmt tmt s t shss nmos mmt t lgQfthnn Qfmth Imt (t ixyQfthnn Qfmth Umozht Imtixe, mhn trt t t Whtm Qfmth Umozht Imt, t ixyUmozht Imtsixe mhn mh m ixyUmozht Imtixe).lglglgWh Dts mhn, m Stt fhss t Whtm Qfmth Shn lgDts Uhms Tth, Shn Dts tmt h mh hms m thnn lg t 5d00 .z. (Oht tz) h t Whtm Qfmth Imt zmo lgtnmh mt mho tz t 5d00 .z. (Oht tz) h t Whtm lgQfmth Imt, t ht mmtmns hss ts n o m. Wmlg Stt ns ht fhs t Whtm Qfmth Shn Dts lgUhms Tth, Wh Dts thnn mmt 5d00 .z. (Oht tz) hlg t Whtm Qfmth Imt mhn t 5d00 .z. (Oht tz) h lgt Qfthnn Qfmth Imt, mhn Shn Dts thnn mt mho tz lg t 5d00 .z. (Oht tz) h t Qfthnn Qfmth Imt, zmo lg tnmh mt mho tz t 5d00 .z. (Oht tz) h t lgQfthnn Qfmth Imt, t ht mmtmns hss ts n lgo m. Stt ss t rt, t s hn h rmth, t lgmzhn t Emfzz Ehsnmth Szht mt mho tz h ts s lgnshth (hhnhr, m htmhto, mmt mh Qfmth Imt mhn lg t t mhm Umozht Imt) tt fthnhr tnmm rts.lglglgO Omhsmhth s sht t htmh tzs mhn hhnths nshn h Sttixs Tmm t Uhms nmtn Emo 11, 2021 (t ixyUhms Tmmixe).lg O m nmts mhn tzs m sht, mhm, t t rt lgm Stt t fthn, h, mzhn mhn/ tzhmt t Tmms, lgsht t mhm ms. Stt zmo mzhn t Emfzz Shn Dtslg Bn Uh mhn/ t Wh Dts Yfn Uh h ts s nshth, lgnn tmt m mt t tz m mho sh mzhnzht t m m tmh lgt shss nmos ht t mhm Qfmth Imt m t Tmms,lg Stt fthn t Tmms s tmt mt mst t shss nmos lgzmh ht t mhm Qfmth Imt. Ens sn mm lgtmt t , nm, hzzhm mh, tst hzmho t lghtznmo stms t h m nmnhs m lgmthmth h, tnmm mz, t Tmms.lglglgDmthm Bmh Yhmhhm Emts (DBY.EmtmEmts@hh.hm (416) 869-8635) s mhthr ms nm zmhmr, Thrsnm Snss (hhtmhts@hrsnmmnss.hzlg 1-800-749-9052) s mhthr ms nstmo mhn ms hmzmth mrht, lgmhn Rnzmhs DDU s mhthr ms Sttixs rm mns h hhhhth lgt t Omhsmhth. S ho m t Uhms Tmm zmo tmhn o lghhtmhthr Dmthm Bmh Yhmhhm Emts Thrsnm Snss mt t lgm hhtmht hmzmth.