RE:RE:RE:RE:RE:RE:Net debt really a 250 million surplus with Tpz sharesAlright, then read this. From the FS Sept 2022;
At September 30, 2021, the revolving credit facility was not drawn. Bank debt
The Company has a covenant-based, unsecured, five-year extendible revolving credit facility in place with a syndicate of banks, in the amount of $1.8 billion. In March 2021, the Company extended the maturity date of the revolving credit facility to June 2026. With the exception of the change in maturity date, the revolving credit facility was renewed under the same terms and conditions as those described in note 9 of the Company’s consolidated financial statements for the year ended December 31, 2020. The maturity date may, at the request of the Company and with consent of the lenders, be extended on an annual basis. The revolving credit facility includes an expansion feature (“accordion”) which allows the Company, upon approval from the lenders, to increase the facility amount by up to $500.0 million by adding a new financial institution or by increasing the commitment of its existing lenders. The revolving credit facility can be drawn in either Canadian or U.S. funds and bears interest at the agent bank’s prime lending rate, banker’s acceptance rates or LIBOR (for U.S. borrowings), plus applicable margins.
At September 30, 2021, the revolving credit facility was not drawn. idleweiss wrote:
it's not a fixed rate debt. It's on a line of credit with variable rate. And I am not talking about the senior unsecured notes.