MONTRÉAL, QUÉBEC--(Marketwired - Aug. 28, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES
Cogeco Cable Inc. (TSX:CCA) ("Cogeco Cable") today announced that it has completed, pursuant to a private placement, the issuance of US$25 million principal amount of 4.14% Series A Senior Secured Notes maturing September 1, 2024, and US$150 million principal amount of 4.29% Series B Senior Secured Notes maturing September 1, 2026. Interest on these Notes is payable semi-annually in arrears on March 1 and September 1 (if not a business day, such payment to be made on the next business day) of each year commencing March 2, 2015.
The net proceeds from the offering will be used to repay a portion of the amount outstanding under Cogeco Cable's term revolving credit facility. Cogeco Cable is committing not to draw down on the resulting increase in availability under the revolving credit facility other than to repay a portion of the US$190 million Senior Secured Notes Series A maturing on October 1, 2015.
ABOUT COGECO CABLE INC.
Cogeco Cable Inc. (www.cogeco.ca) is a telecommunications corporation. It is the 11th largest cable operator in North America operating in Canada under the Cogeco Cable Canada name in Quebec and Ontario, and in the United States under the Atlantic Broadband name in Western Pennsylvania, South Florida, Maryland/Delaware and South Carolina. Its two-way broadband fibre networks provide to its residential and business customers analogue and digital television, high speed Internet and telephony services. Through its subsidiaries Cogeco Data Services and Peer 1 Hosting, Cogeco Cable Inc. provides to its commercial customers a suite of information technology services (colocation, managed and dedicated hosting, managed IT, cloud and connectivity services), with 20 data centres, extensive fibre networks in Montreal and Toronto as well as points-of-presence in North America and Europe. Cogeco Cable Inc.'s subordinate voting shares are listed on the Toronto Stock Exchange (TSX:CCA).