Quarterhill said October 30 that it repaid the full C$57.5 million principal amount of its 6% convertible unsecured subordinated debentures, together with accrued and unpaid interest.
The repayment occurred on the securities’ October 30 maturity date, according to the company’s announcement. Computershare Trust Company of Canada processed payment as the debenture trustee.
The debentures, which traded on the Toronto Stock Exchange under the symbol QTRH.DB, are scheduled to be delisted at the close of October 30 trading.
That delisting applies to the matured debt securities. Quarterhill separately identified its ordinary equity trading symbols as QTRH on the Toronto exchange and QTRHF on the OTCQX market.
The announcement does not specify the amount of accrued interest paid or identify the funding sources used for the repayment. It also does not announce a replacement debt issue.
Quarterhill supplies intelligent-transportation systems, including technology used in tolling, roadway management and commercial-vehicle compliance. The release concerns the company’s financing obligations rather than a newly awarded transportation contract.
Sources: Company — October 30 Announcement: https://www.prnewswire.com/news-releases/quarterhill-announces-repayment-of-convertible-debentures-302924415.html