Canadian fixed-line operator and DTH provider Shaw has completed a dual tranche C$800m (US$720m) senior bond offering.
Shaw offered C$500m of 4.35% notes due 2024 and C$300m in floating rate notes maturing in 2016.
The company will use the proceeds to…
Canadian fixed-line operator and DTH provider Shaw has completed a dual tranche C$800m (US$720m) senior bond offering.
Shaw offered C$500m of 4.35% notes due 2024 and C$300m in floating rate notes maturing in 2016.
The company will use the proceeds to fund the redemption of its C$600m 6.5% senior notes due in June this year. The remainder will be set aside for working capital purposes.
TD Securities was the sole bookrunner. CIBC World Markets, RBC Dominion Securities, Scotia Capital, Citigroup and National Bank Financial acted as agents on the deal.
In its most recent quarterly results, the company reported C$1.36bn in consolidated revenues for the previous three months and operating income before amortisation of C$608m. Shaw has C$4.5bn in net debt.
The company offers cable and satellite television, fixed-line telephony and broadband, primarily in British Columbia and Alberta.
