Business News • MarketWire • The Consumers' Waterheater Income Fund and The Consumers' Waterheater Operating Trust Announce Drawdown Under Bridge Facility for Refinancing of Series 2003-1 A-2 Notes

The Consumers' Waterheater Income Fund and The Consumers' Waterheater Operating Trust Announce Drawdown Under Bridge Facility for Refinancing of Series 2003-1 A-2 Notes

The Consumers' Waterheater Income Fund and The Consumers' Waterheater Operating Trust Announce Drawdown Under Bridge Facility for Refinancing of Series 2003-1 A-2 Notes

TORONTO, ONTARIO--(Marketwire - Jan. 27, 2010) - The Consumers' Waterheater Income Fund ("Fund") (TSX:CWI.UN) and The Consumers' Waterheater Operating Trust ("Trust") today announced that the Trust has drawn down fully on its previously announced $240 million bridge facility ("Bridge") and $12.5 million of its $35 million revolving facility ("New Revolver"), for a total amount of $252.5 million. The proceeds will be used by the Trust to repay in full the amount outstanding on its 'AAA' rated $225 million 5.245% Series 2003-1 A-2 Secured Notes ("Series 2 Notes") on January 28, 2010 (their expected final payment date), including interest, and a portion of its existing revolver. The balance of the existing revolver will be repaid by the Trust from cash on hand. Funds drawn will initially bear interest at the rate of approximately 3% per annum.

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