Cogeco Cable Inc.
TSX : CCA

Cogeco Cable Inc.

May 28, 2013 17:01 ET

Atlantic Broadband, a Subsidiary of Cogeco Cable, Amends its Existing Credit Agreement

Atlantic Broadband lowers pricing for the Term A Facility, the Term B Facility and the Revolving Credit Facility and increases the size of Revolving Credit Facility by converting $50 million of the Term A Loans into Revolving Credit Commitments

MONTRÉAL, CANADA--(Marketwired - May 28, 2013) - Atlantic Broadband, a subsidiary of Cogeco Cable Inc. (TSX:CCA), announced today that it has amended its Credit Agreement dated as of November 30, 2012 pursuant to which the Lenders have extended a revolving credit facility to Acquisitions Cogeco Cable II L.P. and Atlantic Broadband (Penn) Holdings, Inc., and term loan facilities to Acquisitions Cogeco Cable II L.P.

Pursuant to the Amendment, certain Term A Lenders will convert $50 million of their outstanding Term A Loans into Revolving Credit Commitments, the applicable margin for LIBOR borrowings for the Term A Facility and the Revolving Credit Facility will be decreased to 2.375% with step downs (from a previous applicable margin of 3.0% with step downs ) and the applicable margin for the Term B Facility will be decreased to 2.50% (from 3.50%) and the related LIBOR floor will be reduced from 1.00% to 0.75%. Total indebtedness of Atlantic Broadband remains essentially unchanged.

ABOUT ATLANTIC BROADBAND

Atlantic Broadband is the 12th largest cable operator in the United States. The company is headquartered in Quincy, Massachusetts, with over 650 employees and 248,000 video customers located in four operating regions: Western Pennsylvania, Miami Beach, Maryland/Delaware, and Aiken, SC. Additional information is available at www.atlanticbb.com.

ABOUT COGECO CABLE

Cogeco Cable (www.cogeco.ca) is a telecommunications corporation and is the 11th largest hybrid fibre coaxial cable operator in North America, operating in Canada under the Cogeco Cable brand name, in Quebec and Ontario, and in the United States through its subsidiary, Atlantic Broadband. Its two-way broadband cable networks provide to its residential and small business customers Analog and Digital Television, High Speed Internet (HSI) and Telephony services. Through its subsidiaries, Cogeco Data Services and PEER 1 Hosting, Cogeco Cable provides its commercial customers a suite of IT hosting, information and communications technology services (Data Centre, Co-location, Managed Hosting, Cloud Infrastructure and Connectivity) with 23 data centres, extensive fibre networks in Montreal and Toronto as well as points-of-presence in North America and Europe. Cogeco Cable's subordinate voting shares are listed on the Toronto Stock Exchange (TSX:CCA).

Contact Information

  • Atlantic Broadband
    Patrick Bratton
    Chief Financial Officer
    617-786-8800 ext.104

    Cogeco Cable Inc.
    Andree Pinard
    Vice President and Treasurer
    514-764-4781