Effective Date | Maturity | Notional amount | Settlement | Fixed interest rate paid | |||||
$ | % | ||||||||
March 18, 2015 | November 18, 2019 | 40,000 | Monthly | 1.61 | |||||
August 18, 2015 | August 20, 2018 | 60,000 | Monthly | 1.197 | |||||
June 8, 2017 | June 20, 2022 | 40,000 | Monthly | 1.79 | |||||
July 21, 2017 | July 18, 2022 | CDN$90,000 | (1) | Monthly | 1.6825 | ||||
August 20, 2018 | August 18, 2023 | 60,000 | Monthly | 2.045 | |||||
(1) | On July 21, 2017, the Company entered into an interest rate swap agreement to minimize the long-term cost of borrowings priced at the 30-day CDOR. The notional amount will decrease by CDN$18.0 million on the 18th of July each year until settlement. |