Montreal-based Cogeco Cable is selling C$300m (US$296m) senior secured debentures that have an interest rate of 4.175%.
The notes will mature in May 2023 and be used to pay off debt. The cableco plans to repay parts of its revolving credit facility, and…
Montreal-based Cogeco Cable is selling C$300m (US$296m) senior secured debentures that have an interest rate of 4.175%.
The notes will mature in May 2023 and be used to pay off debt. The cableco plans to repay parts of its revolving credit facility, and the remainder will be set aside to repay C$300m paper set to mature in 2014.
The Quebecois telco expects to complete the transaction on 27 May 2013.
CIBC World Markets is leading a syndicate of underwriters which are managing the sale, including BMO Nestbitt Burns, National Bank Financial, Scotia Capital, RBC Dominion Securities, Desjardins Securities, TD Securities, HSBC and Casgrain & Company.
In April, Cogeco completed the sale of US$400m seven-year senior unsecured notes to repay debt linked to the acquisition of Peer 1 Network Enterprises.
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.
