Originally Posted by
pitz
Geez, didn't CP encumber every last asset possible, prior to their demise?
Can't believe AC is trying to grow capacity against this backdrop. They desperately need yield.
AC is not trying to "grow" they are just trying to pay back some people money owed by borrowing from different people.
cut past here/.
The country’s largest carrier said it plans to issue $900-million in senior secure notes, which will come due in 2015, through a private offering in order to repay the $700-million credit facility it received from a number of players, including the federal government, last summer while it was struggling to avoid a bankruptcy filing.
“Air Canada intends to use the net proceeds for the repayment of all indebtedness under Air Canada's secured term credit facility entered into in July 2009 and would use any remaining net proceeds for general corporate purposes,” the company said in a statement.
Read more:
http://www.financialpost.com/news/Ca...#ixzz0v11xESOy