Canadian satellite broadcaster Shaw Communications announced yesterday the closure of its offering of C$900m of senior notes.
The offering was for C$500m principal amount of 5.50% senior unsecured notes due in 2020, as well as a reopened offering of…
Canadian satellite broadcaster Shaw Communications announced yesterday the closure of its offering of C$900m of senior notes.
The offering was for C$500m principal amount of 5.50% senior unsecured notes due in 2020, as well as a reopened offering of 6.75% senior unsecured notes for a further C$400m due in 2039.
A Shaw spokesperson told TelecomFinance that the offering had gone “very well”.
He said that the deal was co-led by TD Securities and Scotia Capital Markets, adding that the syndicate included CIBC World Markets and RBC Dominion Securities.
In its statement yesterday, Shaw said that the proceeds of this debt offering would be used to repay debt incurred under Shaw’s credit facility to complete the acquisition of the broadcasting assets of Canwest Global Communications. It would also be used “to effect a subsequent related debt refinancing”.
When it announced the debt offering on December 3, Shaw said that the effective yield of the 2020 notes and the 2039 notes would be 5.548% and 6.963% respectively.
