Sherritt International Corp T.S

Alternate Symbol(s): SHERF

Metals & Mining Copper

Sherritt International Corporation is a Canada-based company engaged in the mining and refining of nickel and cobalt metals essential for the adoption of electric vehicles through hydrometallurgical processes. The Company is engaged in the production of high purity nickel and cobalt metals from lateritic ore. Its technologies group creates solutions for oil and mining companies around the world to improve environmental performance. The Company offers a range of products including Nickel, Cobalt, Fertilizers and Other Products. The Nickel products category includes standard grade, steel grade, and nickel powders. The Cobalt products category includes cobalt briquettes and cobalt powders. The Company’s Fertilizers product category includes anhydrous ammonia, granular ammonium sulfate, crystalline ammonium sulfate-super salt, and crystalline ammonium sulfate-standard grade. The Other products category includes sulfuric acid, zinc sulfide, and copper sulfide.

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Sherritt International Corp > We got an upgrade (DBRS Debt rating Feb 1)

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Comment by FrozenInOntarioon Feb 07, 2023 12:01pm

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Post# 35271974

RE:RE:RE:RE:RE:We got an upgrade (DBRS Debt rating Feb 1)

Hey Contrarian,

The cash sweep is covered under Section 3.08 Mandatory Redemption from Excess Cash Flow.
Under this section, there is no premium awarded if I am not mistaken
(b) Any Notes redeemed in accordance with this Section 3.08 will be redeemed on a pro rata basis at a redemption price of 100% of the principal amount thereof plus accrued and unpaid interest, if any, to (but excluding) the date of redemption.

Under Section 3.07, Sherritt can decide to redeem whenever they want but have to pay the premium.

Of course, it is much better to buyback in the market under par while they can.

Regards,

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