debt

Bank Debt

  • Covenant based, fully secured, C$500 million facility; 9 banks in syndicate

Term Loan

  • $500 million term loan with the Export-Import Bank of Korea (“KEXIM”)

6 7/8% US Senior notes

  • US$282.5 million principal amount of 6 7/8% unsecured Senior Notes
  • Mature on October 1, 2017 
  • Interest payments occur semi-annually on April 1 and October 1
  • The Notes are redeemable at a price equal to 100% of the principal amount of the Notes being redeemed, plus a make-whole redemption premium

    2 1/8% us senior notes

    • US$630 million principal amount of 2 1/8% unsecured Senior Notes
    • Mature on May 14, 2018
    • Interest payments occur semi-annually on November 14 and May 14
    • Irrevocably and unconditionally guaranteed by KNOC

    2 1/3% us senior notes

    • US$195.8 million principal amount of 2 1/3% unsecured Senior Notes
    • Mature on April 14, 2021
    • Interest payments occur semi-annually on April 14 and October 14
    • Irrevocably and unconditionally guaranteed by KNOC

    Harvest considers its capital structure to be its long term debt outstanding and shareholder’s equity.