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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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But, they are ultimately redeemable at par or 100.  If held to maturity they are then worth 100 + accumulated interest .  Therefore, add $8.00  plus the 4.5% to get the effective rate of return.  If converted to shares prior to maturity, then the calculation would change dependent on the underlying value of the common shares at the time of conversion

Brian 

 

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