Ontrea Inc.

November 09, 2010 11:13 ET

Ontrea Inc. to Redeem C$600 Million of 5.57% Series B Debentures

TORONTO, ONTARIO--(Marketwire - Nov. 9, 2010) -

Attention Business Reporters and Editors:

Ontrea Inc. (the "Company") today announced that it has exercised its right to redeem its C$600,000,000, 5.57%, Series B Debentures, due April 9, 2013, on December 9, 2010.

The specific redemption price will be made available through a press release to be issued by the Company on December 2, 2010. The redemption price for the Series B Debentures will be determined in accordance with the provisions of the trust indenture dated as of October 31, 2001 between, among others, the Company and The Canada Trust Company, as supplemented by the first supplemental indenture dated as of April 9, 2003 between, among others, the Company and The Canada Trust Company. The redemption amount paid will also include the principal amount of the Series B Debentures being redeemed, accrued and unpaid interest on the Series B Debentures up to, and including, the redemption date, and a make-whole amount, if any.

Notice of redemption will be delivered today to CDS Clearing and Depository Services Inc. ("CDS") and the trustee, The Canada Trust Company. Non-registered holders (banks, brokerage firms or other financial institutions) who maintain their interests in the Series B Debentures through CDS should contact their CDS customer service representative with any questions about the redemption. Alternatively, beneficial holders with any questions about the redemption should contact their representative brokerage firm or financial institution, which holds interests in the Series B Debentures on their behalf.

TD Securities and RBC Capital Markets have been engaged by the Company to evaluate refinancing options in respect of the Series B Debentures.

Contact Information

  • Ontrea Inc.
    Corporate Communications and Media Relations