Notes to consolidated financial statements  September 27, 2014 and September 28, 2013 (Millions of dollars, unless otherwise indicated) Given  that some of its purchases are denominated in foreign currencies, the Corporation is exposed to foreign exchange  risk. In  accordance with its risk management policy, the Corporation uses derivative financial instruments, consisting of foreign  exchange forward contracts, to hedge against the ef fect  of foreign exchange rate fluctuations on its future foreign- denominated purchases  of goods and  services. The Corporation deemed market conditions to be favourable to long-term financing. On December 1, 2014, the  Corporation issued a private placement of $300.0 aggregate principal amount of Series C unsecured senior notes,  bearing  interest at a fixed nominal rate of 3.20% and maturing December 1, 2021, and $300.0 aggregate principal amount  of  Series D unsecured senior notes, bearing interest at a fixed nominal rate of 5.03% and maturing December 1, 2044.  The Corporation decided to allocate the proceeds to repayment of existing debt, working capital and other general  corporate purposes. On December 5, 2014, the Corporation paid of f  its $335,0 unsecured renewable revolving credit  facility which had a weighted average rate of 2.39%. The Corporation also decided to redeem its $200.0 aggregate  principal amount of Series  A  notes, at a fixed nominal rate of 4.98%, maturing October 15, 2015; the redemption date  will be  December 31, 2014.  Redemption fees  will  be  $5.9. The consolidated financial statements of fiscal year ended September 27, 2014 (including comparative figures) were  approved for  issue by the Board  of  Directors  on  December 12,  2014 . 31. EVENT AFTER THE REPORTING PERIOD 32. APPROVAL OF FINANCIAL STATEMENTS - 83 - As at September 27, 2014 and September 28, 2013 , the fair value of foreign exchange forward contracts was  insignificant. FOREIGN EXCHANGE RISK