Rogers 2005 Annual Report Download - page 123

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119 ROGERS 2005 ANNUAL REPORT . NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
At December 31, 2005, $71.0 million (2004 – nil) was outstanding under the bank credit facility, which provides
Wireless with, among other things, up to $700.0 million from a consortium of Canadian financial institutions.
Under the credit facility, Wireless may borrow at various rates, including the bank prime rate or base rate to
the bank prime rate or base rate plus 13⁄4% per annum, the bankers’ acceptance rate plus 1% to 23⁄4% per annum and
the London Inter-Bank Offered Rate (“LIBOR”) plus 1% to 23⁄4% per annum. Wireless’ bank credit facility requires, among
other things, that Wireless satisfy certain financial covenants, including the maintenance of certain financial ratios.
This credit facility is available on a fully revolving basis until the first date specified below, at which time, the
facility becomes a revolving/reducing facility and the aggregate amount of credit available under the facility will be
reduced as follows:
On April 30:
2008 $ 140,000
2009 140,000
2010
420,000
Borrowings under the credit facility are secured by the pledge of a senior bond issued under a deed of trust, which is
secured by substantially all the assets of the Company and certain of its subsidiaries, subject to certain exceptions and
prior liens.
(i i ) Se n i or Se c ur e d N o te s , d u e 2 00 6 :
Wireless’ $160.0 million Senior Secured Notes mature on June 1, 2006. These notes are redeemable, in whole or in part, at
Wireless’ option, at any time, subject to a certain prepayment premium.
(i i i ) F l oa t in g R a t e S en i or S ec u re d N o t es , d u e 2 0 10 :
On November 30, 2004, Wireless issued US$550.0 million of Floating Rate Senior Secured Notes, which mature on December 15,
2010. These notes are redeemable in whole or in part, at Wireless’ option, at any time on or after December 15, 2006 at
102.0% of the principal amount, declining ratably to 100.0% of the principal amount on or after December 15, 2008, plus,
in each case, interest accrued to the redemption date. The Company pays interest on the Floating Rate Notes at LIBOR
plus 3.125%, reset quarterly.
(i v ) S e ni o r S e cu r ed Not e s, du e 20 1 1:
Wireless’ US$490.0 million Senior Secured Notes mature on May 1, 2011. These notes are redeemable, in whole or in part,
at Wireless’ option, at any time, subject to a certain prepayment premium.
(v ) S en i o r S ec u re d No t es , d u e 2 0 11 :
On November 30, 2004, Wireless issued $460.0 million Senior Secured Notes which mature on December 15, 2011. These
notes are redeemable, in whole or in part, at Wireless’ option, at any time, subject to a certain prepayment premium.
(v i ) S e ni o r S e cu r ed Not e s, du e 20 1 2:
On November 30, 2004, Wireless issued US$470.0 million Senior Secured Notes which mature on December 15, 2012. These
notes are redeemable, in whole or in part, at Wireless’ option at any time, subject to a certain prepayment premium.
(v i i ) Se n i or Se c ur e d N o te s , d u e 2 01 4 :
On February 20, 2004, Wireless issued US$750.0 million of Senior Secured Notes due on March 1, 2014. These notes are
redeemable, in whole or in part, at Wireless’ option at any time, subject to a certain prepayment premium.
(v i i i) S en i or S ec u re d No t es , d u e 2 0 15 :
On November 30, 2004, Wireless issued US$550.0 million of Senior Secured Notes which mature on March 15, 2015. These
notes are redeemable, in whole or in part, at Wireless’ option at any time, subject to a certain prepayment premium.