The Toronto Stock Exchange reports that Accord Financial Corp. has amended the terms of its 7.0 per cent convertible unsecured subordinated debentures as follows:

• The maturity date of the debentures has been extended from Dec. 31, 2023, to Jan. 31, 2026.
• The interest rate on the debentures will increase from 7.0 per cent per year to 10.0 per cent per year and the debentures will be redesignated as 10.0 per cent convertible unsecured subordinated debentures, effective from and including Jan. 2, 2024.
• The conversion right of the debentureholders has been removed.
• The company's right to repay the principal amount of the debentures in common shares on the new maturity date or any redemption date has been removed.
• The debentures are not redeemable prior to Feb. 1, 2024, except in the event of a change of control.

According to the TSX, all other terms of the debentures remain unchanged. For more information, see the TSX bulletin dated Dec. 14, 2018, the company's management information circular dated June 30, 2023, and its news release dated Aug. 15, 2023. The TSX notes that the amendments are contained in a supplemental indenture dated Aug. 15, 2023, between the company and Computershare Trust Company of Canada, as the debenture trustee.

In accordance with the terms of the trust indenture dated Dec. 18, 2018, between the company and Computershare, as supplemented by the first supplemental indenture dated Sept. 13, 2019, and the second supplemental indenture (collectively, the indenture), as Dec. 31, 2023, is a Sunday, and Monday, Jan. 1, 2024, is a statutory holiday in Canada, the next interest payment date is Tuesday, Jan. 2, 2024. The amendment to the interest rate and the redesignation of the debentures will become effective at the opening on Jan. 2, 2024. As a result, the debentures will be posted for trading at the opening on Jan. 2, 2024, under the new name, 10.0 per cent convertible unsecured subordinated debentures. The TSX will issue another bulletin with details of the redesignation. There will be no change to the Cusip number or trading symbol of the debentures. All of the other amendments are effective immediately.