Quebecois Cogeco Cable has completed the sale of US$400m seven-year senior unsecured notes.
BofA Merrill Lynch and Scotiabank were the joint book-running managers. CIBC, BMO Capital Markets, National Bank of Canada, Desjardins, TD Securities, RBC…
Quebecois Cogeco Cable has completed the sale of US$400m seven-year senior unsecured notes.
BofA Merrill Lynch and Scotiabank were the joint book-running managers. CIBC, BMO Capital Markets, National Bank of Canada, Desjardins, TD Securities, RBC Capital Markets, Citigroup, HSBC and Mitsubishi UFJ were co-managers.
The bond carries a coupon of 4.875% and Cogeco will use the proceeds, along with borrowings under its CIBC senior secured credit facilities, to repay the term loan tranches of senior secured credit facilities it secured to help acquire PEER 1 Network Enterprises. It completed the US$526m buy earlier this month.
The Montreal-based cableco entered into US$250m four-year secured revolving credit facilities, and US$400m in four-year secured-term credit facilities, led by National Bank of Canada.
Cogeco offers television, internet and telephony via cable in Ontario and Quebec, and also operates in a number of east coast states in the US through Atlantic Broadband.
