RE:RE:Unsecured to Secured debentures in 2011alkhor wrote: Strange the maturity date of the debentures was extended to 2014 and then again to 2018 but I have found nothing which extended the maturity past June 30th, 2018. If the debentures are no longer subordinate to the Shelter loan, why are they not making the same proposal to both and get rid of all loans except mortgages? This is probaby the hold up as some major debenture holder is insisting on it and of course Arnie doesn't want it, although it would mean he would end up with 80% of the units.
The debentures as you have stated were extended"
1.) Original offering in December 2006 matured December 2011;
2.) Extended term by introducing "Secured" status and removing convertible option amongst other changes to the trust indenture in October 2011 with term maturing February 2015;
3.) Extended term in June 2014 with term maturing June 2018;
4.) Extended term in June 2016 (eight weeks after the big Ft McMurray wildfire) with term maturing June 2022.
It would appear that there are no further plans to extend the term again given how close to term maturation we are - unless the news comes quickly.