Canadian Tire in $100 million bought deal

(January 12 – 16:45 ET) — Canadian Tire Corp. Ltd. said it entered a bought deal with a group of underwriters led by RBC Dominion Securities Inc. and Merrill Lynch Canada Inc. for the sale of $100 million of preferred securities.

An option allows the further purchase of up to $25 million on the same terms. Each security represents $25 principal amount of unsecured junior subordinated debentures and bears interest at 9% a year that’s paid quarterly. The issue has a term of about 49 years and is redeemable at par after five years.