StorageVault Canada OK’d to buy back some 5.75%, 5.5% debentures due 2026

By Rebecca Melvin

Concord, N.H., March 16 – StorageVault Canada Inc. received conditional acceptance from the Toronto Stock Exchange to commence a normal course issuer bid to purchase for cancelation C$3.75 million of its outstanding 5.75% senior unsecured hybrid dentures due Jan. 31, 2026 and C$2.875 million of its outstanding 5.5% senior hybrid debentures due Sept. 30, 2026, according to a news release.

The repurchases represent 5% of the C$75 million 5.75% debentures outstanding and 5% of the C$57.5 million 5.75% debentures outstanding.

StorageVault also renewed its normal course issuer bid to purchase for cancelation up to 18,931,052, or 5%, of the outstanding common shares of the corporation.

The bid starts March 18 and ends March 17, 2023.

National Bank Financial Inc. is the agent.

StorageVault’s previous normal course issuer bid through TSX Venture Exchange for $3.75 million of the 5.75% debentures ended on Jan. 24, and no debentures were purchased.

StorageVault operates and owns a self-storage property in Regina, Sask.

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