MEGA Brands Inc. (T.MB) hit a new 52-week high of $14.47 Tuesday. MEGA Brands announced today that it intends to reduce the outstanding principal amount of its debentures by $62.4 million using proceeds from the exercise of warrants together with a scheduled repayment.
As a result, the Corporation's pre-tax cash interest expense will be reduced by approximately $6.2 million annually, representing $0.22 per diluted common share on a pre-tax basis, assuming exercise of warrants by the warrant holders named herein, and on the assumptions set forth below. The principal amount of debentures outstanding will be reduced to $52.2 million, compared to $141.7 million as at March 30, 2010 when they were issued.
Air Canada (T.AC.B) hit a new 52-week high of $3.07. Air Canada is becoming an even more attractive option for travelers connecting to the U.S. due to a simplified baggage handling process at its Toronto Lester B. Pearson International Airport hub. The new system sends checked baggage to connecting flights so connecting customers no longer have to retrieve their checked bags for U.S. customs inspection.
Jovian Capital Corporation (T.JOV) hit a new 52-week high of $7.88 Tuesday. No news announcements today
Wescast Industries Inc. (T.WCS.A) hit a new 52-week high of $10.90 Tuesday. No news announcements today
WestJet Airlines Ltd. (T.WJA) hit a new 52-week high of $24.67 Tuesday. No news announcements today
Boralex Inc. (T.BLX) hit a new 52-week high of $10.65 Tuesday. No news announcements today
Intertape Polymer Group Inc. (T.ITP) hit a new 52-week high of $10.72 Tuesday. No news announcements today
Brookfield Residential Properties Inc. (T.BRP) hit a new 52-week high of $24.74 Tuesday. No news announcements today
