MPIC has $53.2 million principal amount outstanding of 6.50 per cent convertible unsecured subordinated debentures due December 31, 2016 (the Debentures).
Interest on the Debentures is paid semi-annually in arrears on June 30 and December 31. Holders may convert the Debentures into common shares of MPIC at a conversion price of $7.00 per unit at any time prior to the earlier of December 31, 2016 and the date fixed by MPIC for redemption. The Debentures cannot be redeemed by MPIC before December 31, 2012. Further information about the terms of the debentures is available in the documents listed under Downloads.
The Debentures are listed on the Toronto Stock Exchange under the symbol MPT.DB.A.