50/50 Returns Framework Is RIGHT ON TARGET For Q1 & Q2 Debt Repurchases and Share Buybacks
The $129 million of second quarter 2023 FCF was primarily used for debt repurchases and share buybacks. The Corporation repurchased US$40 million (approximately $54 million) of outstanding 7.125% senior unsecured notes at a weighted average price of 102.3%. Share buybacks totaled $66 million through the repurchase and cancellation of 3.1 million shares at a weighted average price of $21.51 per share. Year-to-date the Corporation repurchased US$126 million (approximately $171 million) of outstanding 7.125% senior unsecured notes at a weighted average price of 102.2% and share buybacks totaled $169 million through the repurchase and cancellation of 8.0 million shares at a weighted average price of $21.12 per share.
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