Cogeco Cable has launched a US$400m private offering of senior unsecured seven-year notes.
The Montreal-based cableco said it will use the proceeds, together with borrowings under one of its senior secured credit facilities, to repay the term loan…
Cogeco Cable has launched a US$400m private offering of senior unsecured seven-year notes.
The Montreal-based cableco said it will use the proceeds, together with borrowings under one of its senior secured credit facilities, to repay the term loan tranches of senior secured credit facilities used to fund its purchase of PEER 1 Network Enterprises at the start of the year.
The US$526m acquisition was completed at the beginning of the month. When the deal was agreed, Cogeco said it had entered into US$250m worth of four-year secured revolving credit facilities, and US$400m in four-year secured term credit facilities. The syndicate of lenders was led by National Bank of Canada.
Cogeco offers television, internet and telephony in Ontario and Quebec, and also operates in a number of east coast states in the US as Atlantic Broadband.
