Air Canada has repaid $274.2 million of indebtedness representing all its outstanding 4.000% convertible senior notes due July 2025 for approximately $279.6 million, including accrued interest.
The notes were cancelled upon repayment.
The airline had recently completed C$500 million ($367.8 million) substantial issuer bid, which coupled with its repayment of notes in cash at maturity, are furthering its goals of reducing the fully diluted number of shares below 300 million by 2028. The airline said this will create “value for shareholders while investing in growth through a balanced long-term capital allocation strategy”.