Air Canada has launched a cash tender offer to purchase for cancellation up to US$300 million outstanding 4.000% Convertible Senior Notes due July 1, 2025 at a purchase price of US$1,220 per US$1,000 notes, plus a cash payment in respect of all accrued and unpaid interest. The offer expires on December 19, 2022. The notes trade on an over-the-counter market, and as of November 11, 2022, there was US$540.2 million principal amount of notes issued and outstanding. Air Canada plans to fund any purchases of notes from available cash on hand. Air Canada stated that it believes that the purchase

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