Strathcona announced that it has issued a notice of redemption for all of its outstanding USD 500 million 6.875% Senior Notes due 2026 (the "Senior Notes"). As set out in the notice of redemption issued December 19, 2025, the redemption date for the Senior Notes is December 30, 2025, and the redemption price is 100% of the principal amount redeemed, plus accrued and unpaid interest. Strathcona also announced the closing of an upsized and extended bank credit facility (the "Amended Credit Facility"), increasing the total facility size to approximately $3.490 billion (up from $3.255 billion previously) and extending the maturity to March 2030 (from March 2028 previously).
The amended and restated credit agreement includes a $265 million accordion feature, allowing the Amended Credit Facility to expand to up to $3.755 billion subject to certain conditions. Finally, Strathcona announced that it disposed of its entire marketable security portfolio in late November and early December for total cash proceeds of approximately $1.390 billion, reflecting a gain of approximately $101 million versus September 30, 2025.
