TORONTO,
May 26, 2014 /CNW/ - Canadian
Tire Corporation, Limited (CTC) (TSX:CTC, TSX:CTC.a)
announced today that it has exercised its right to redeem all
$200 million of the outstanding 5.65%
Series D medium-term notes due June 1,
2016 (the "Series D Notes") on the following
terms:
- Redemption Date: June 25,
2014
- Redemption Price: $1,074.840 per
$1,000 principal amount
- Accrued and Unpaid Interest: $3.715 per $1,000
principal amount.
- Total Redemption Price and Accrued and Unpaid Interest:
$1,078.555 per $1,000 principal amount.
The redemption price has been determined in
accordance with the provisions of the Trust Indenture dated
March 14, 2005 and the Fourth
Supplemental Trust Indenture dated June
1, 2009. Interest accrued on the Series D Notes up to,
but not including, the redemption date will be paid on the
redemption date.
A notice of redemption will be delivered today to
CDS Clearing and Depositary Services Inc. ("CDS") who is the
registered holder of the Series D Notes. Non-registered holders who
maintain their interests in the Series D Notes through CDS should
contact their CDS customer services representatives with any
questions about the redemption. Alternatively, beneficial
holders with any questions about the redemption should contact
their respective brokerage firm or financial institution, which
holds interests in the Series D Notes on their behalf. The Trustee
for the Series D Notes, BNY Trust Company of Canada (as attorney for CIBC Mellon Trust
Company), may also be contacted toll free at 1-800-254-2826 or by
email at bhr.clientservice@bnymellon.com.
FORWARD-LOOKING STATEMENTS
All statements other than statements of
historical facts included in this press release may constitute
forward-looking information, including but not limited to
statements concerning management's expectations relating to the
redemption of the Series D Notes and the redemption date. Often but
not always, forward-looking information can be identified by the
use of forward-looking terminology such as "may", "will", "expect",
"believe", "estimate", "plan", "could", "should", "would",
"outlook", "forecast", "anticipate", "foresee", "continue" or the
negative of these terms or variations of them or similar
terminology. Forward-looking information is based on the
reasonable assumptions, estimates, analyses, beliefs and opinions
of management made in light of its experience and perception of
trends, current conditions and expected developments, as well as
other factors that management believes to be relevant and
reasonable at the date that such information is provided.
By its very nature, forward-looking information
requires us to make assumptions and is subject to inherent risks
and uncertainties, which give rise to the possibility that the
Company's assumptions, estimates, analyses, beliefs and opinions
may not be correct and that the Company's expectations and plans
will not be achieved. Although the Company believes that the
forward-looking information in this document is based on
information, assumptions and beliefs which are current, reasonable
and complete, this information is necessarily subject to a number
of factors that could cause actual results to differ materially
from management's expectations and plans as set forth in such
forward-looking information for a variety of reasons. Some of
the factors - many of which are beyond our control and the effects
of which can be difficult to predict - include but are not limited
to liquidity and funding risks, including changes in economic
conditions. Investors and other readers are urged to consider the
foregoing risks, uncertainties, factors and assumptions carefully
in evaluating the forward-looking information and are cautioned not
to place undue reliance on such forward-looking information.
For more information on the risks, uncertainties
and assumptions that could cause the Company's actual results to
differ from current expectations, please refer to the "Risk
Factors" section of our Annual Information Form for fiscal 2013 and
section 11.0 (Enterprise risk management) of our Management's
Discussion and Analysis contained in the Company's 2013 Annual
Report, as well as the Company's other public filings, available at
www.sedar.com and at www.corp.canadiantire.ca.
The forward-looking information contained herein
is based on certain factors and assumptions as of the date hereof.
The Company does not undertake to update any forward-looking
information, whether written or oral, that may be made from time to
time by it or on its behalf, to reflect new information, future
events or otherwise, unless required by applicable securities
laws.
ABOUT CANADIAN TIRE
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, CT REIT and Canadian Tire Jumpstart
Charities, CTC's affiliated national charity that is dedicated to
removing financial barriers so kids across Canada can participate in sports and physical
activities. 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 nearly 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