Subsequent events	3 Months Ended
Mar. 31, 2020
Subsequent events
Subsequent events	20. SUBSEQUENT EVENTS Completion of the sale of MDA On April 8, 2020, the Company completed the previously announced sale by the Sellers, of the MDA Business pursuant to the MDA Agreement dated as of December 29, 2019 between the Sellers and MDA Purchaser, for an aggregate purchase price of approximately $729 million (C$1.0 billion) subject to customary purchase price adjustments set forth therein, including for working capital, cash and debt and as otherwise set forth in the MDA Agreement. On February 11, 2020, in connection with the MDA Agreement, the Company entered into deal-contingent foreign currency hedge arrangements, with no cash cost, to hedge 50% of the Canadian dollar denominated sales price at a spot rate of C$1.339181 to $1.00. As a result of the completion of the MDA sale on April 8, 2020, the deal-contingent foreign currency hedge arrangements became effective. Of the total purchase price received by the Company for the sale of the MDA Business, $373 million related to the deal-contingent foreign currency hedge arrangements. Pursuant to that certain Restated Credit Agreement, dated as of October 5, 2017 (as amended, supplemented or otherwise modified, the “Credit Agreement”), governing the Company’s Syndicated Credit Facility, and the indenture governing the 2023 Notes, net cash proceeds received by the Company, including those from the sale of the MDA Business, as defined in the Credit Agreement and the indenture governing the 2023 Notes, are to be used to repay outstanding debt. Pursuant to such definitions, the net cash proceeds of the sale of the MDA Business are $680 million. Under the terms of the indenture governing the 2023 Notes, the Company has up to 365 days to apply the proceeds in accordance with the “Asset Sales” covenant set forth therein, including but not limited, to repurchase, prepay or consummate an asset sale with respect to the 2023 Notes in each case, in the amounts required by the terms of the indenture governing the 2023 Notes. On April 16, 2020, the Company repaid $472 million of the Term Loan B and expects to use up to $208 million of the remaining net proceeds to make an offer to purchase or repay outstanding 2023 Notes.

Subsequent events

3 Months Ended

Mar. 31, 2020

20. SUBSEQUENT EVENTS

Completion of the sale of MDA

On April 8, 2020, the Company completed the previously announced sale by the Sellers, of the MDA Business pursuant to the MDA Agreement dated as of December 29, 2019 between the Sellers and MDA Purchaser, for an aggregate purchase price of approximately $729 million (C$1.0 billion) subject to customary purchase price adjustments set forth therein, including for working capital, cash and debt and as otherwise set forth in the MDA Agreement. On February 11, 2020, in connection with the MDA Agreement, the Company entered into deal-contingent foreign currency hedge arrangements, with no cash cost, to hedge 50% of the Canadian dollar denominated sales price at a spot rate of C$1.339181 to $1.00. As a result of the completion of the MDA sale on April 8, 2020, the deal-contingent foreign currency hedge arrangements became effective. Of the total purchase price received by the Company for the sale of the MDA Business, $373 million related to the deal-contingent foreign currency hedge arrangements.

Pursuant to that certain Restated Credit Agreement, dated as of October 5, 2017 (as amended, supplemented or otherwise modified, the “Credit Agreement”), governing the Company’s Syndicated Credit Facility, and the indenture governing the 2023 Notes, net cash proceeds received by the Company, including those from the sale of the MDA Business, as defined in the Credit Agreement and the indenture governing the 2023 Notes, are to be used to repay outstanding debt. Pursuant to such definitions, the net cash proceeds of the sale of the MDA Business are $680 million. Under the terms of the indenture governing the 2023 Notes, the Company has up to 365 days to apply the proceeds in accordance with the “Asset Sales” covenant set forth therein, including but not limited, to repurchase, prepay or consummate an asset sale with respect to the 2023 Notes in each case, in the amounts required by the terms of the indenture governing the 2023 Notes. On April 16, 2020, the Company repaid $472 million of the Term Loan B and expects to use up to $208 million of the remaining net proceeds to make an offer to purchase or repay outstanding 2023 Notes.