Debentures & Debt

Bank Debt

  • Covenant based, fully secured, C$500MM facility; 7 banks in syndicate
  • Amended and Extended April 30, 2010 
  • Matures April 30, 2013 
  • Interest rate: $C BAs + 200bps

Senior Notes

  • US$210MM issued October 2004 
  • 7 ⅞%, 2011 maturity (first call date Oct. 2008)
  • Incurrence test on new debt (interest coverage >2.5:1.0)
  • Secured debt < 65% of PV10 value of proved reserves

Convertible Debentures

  • 5 Series – average interest rate of 6.9% - average term ~2.8 years
  • C$758MM outstanding - traded on TSX

TSX: HTE.DB - Matured may 31, 2009 - no longer traded

Interest: 

9% (payable semi-annually on May 31 and November 30)

Conversion price: 

$13.85

Maturity:

May 31, 2009

Full details:

Final prospectus dated January 21, 2004 and filed on SEDAR

TSX: HTE.DB.A - Matured September 30, 2009 - No longer traded

Interest: 

8% (payable semi-annually on March 31 and September 30)

Conversion price: 

$16.07

Maturity:

September 30, 2009

Full details:

Final prospectus dated July 30, 2004 and filed on SEDAR.

TSX: HTE.DB.B

Interest: 

6.5% (payable semi-annually on June 30 and December 31)

Conversion price: 

$31.00

Maturity:

December 31, 2010

Full details:

Final prospectus dated July 20, 2005 and filed on SEDAR.

TSX: HTE.DB.C - MATURED JANUARY 31, 2008 - NO LONGER TRADED

Interest: 

10.5% (payable semi-annually on January 31 and July 31)

Conversion price: 

$29.00

Maturity:

January 31, 2008

Full details:

Final prospectus dated January 7, 2003 and filed on SEDAR

TSX: HTE.DB.D

Interest: 

6.40% (payable semi-annually on April 30 and October 31, commencing on April 30, 2006)

Conversion price: 

$46.00

Maturity:

October 31, 2012

Full details:

Final prospectus dated October 12, 2005 and filed on SEDAR

TSX: HTE.DB.E

Interest: 

7.25% (payable semi-annually on March 31 and September 30, commencing on March 31, 2007)

Conversion price: 

$32.20

Maturity:

September 30, 2013

Full details:

Final prospectus dated November 14, 2006 and filed on SEDAR

TSX: HTE.DB.F

Interest: 

7.25% (payable semi-annually on February 28 and August 31, commencing on August 31, 2007)

Conversion price: 

$27.25

Maturity:

February 28, 2014

Full details:

Final prospectus dated January 25, 2007 and filed on SEDAR

TSX: HTE.DB.G

Interest: 

7.50% (payable semi-annually on May 31 and November 30, commencing on November 30, 2008)

Conversion price: 

$27.40

Maturity:

May 31, 2015

Full details:

Final prospectus dated April 11, 2008 and filed on SEDAR