French Canadian cableco Cogeco has priced C$50m of 6% senior unsecured notes due 2020 to be sold in a private placement.
Scotia Capital and CIBC World Markets are acting as joint bookrunners on the offering, which is being used to repay existing…
French Canadian cableco Cogeco has priced C$50m of 6% senior unsecured notes due 2020 to be sold in a private placement.
Scotia Capital and CIBC World Markets are acting as joint bookrunners on the offering, which is being used to repay existing indebtedness under Cogeco’s term revolving facility.
The committed amount of the revolver will be reduced by C$50m. Cogeco has been focusing on debt reduction following an acquisitive spell and is looking to pare its C$3bn debt pile.
In its last annual report the cableco declared revenues of C$1.7bn and C$49m profit.
Cogeco expects to close the latest offering on 5 March.