Cogeco Cable Inc.

Cogeco Cable Inc.

June 27, 2013 18:12 ET

Cogeco Cable Completes the Issuance of US$215 Million Senior Secured Notes

MONTRÉAL, QUÉBEC--(Marketwired - June 27, 2013) -


Cogeco Cable Inc. (TSX:CCA) ("Cogeco Cable") today announced that it has completed the issuance of a private placement of US$215 million Senior Secured Notes at an interest rate of 4.30% maturing June 16, 2025. Interest on these Notes is payable semi-annually on December 16 and June 16 of each year, commencing December 16, 2013.

The net proceeds from this offering along with drawings under Cogeco Cable's bank credit facilities will be used to fund the anticipated redemption in full of the $300 million Senior Secured Debentures, Series 1, due June 9, 2014. Following the issuance of its May 27th, 2013 Senior Secured Debentures, Series 4 offering, of which net proceeds were used to repay a portion of amounts outstanding under its revolving bank credit facilities, Cogeco Cable will reduce its $1,000 million committed revolving bank credit facilities to $800 million.

The Senior Secured Notes have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Senior Secured Notes have not been, and will not be, qualified for sale to the public under applicable Canadian securities laws. Accordingly, the Senior Secured Notes have been offered only to "qualified institutional buyers" (as defined under Rule 144A under the Securities Act) in accordance with Rule 144A under the Securities Act and to non-U.S. persons outside of the United States in compliance with Regulation S under the Securities Act.

This press release does not constitute an offer to sell or the solicitation of an offer to buy Senior Secured Notes in any jurisdiction in which such an offer or sale would be unlawful.


Cogeco Cable ( 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 in Western Pennsylvania, South Florida, Maryland, Delaware and South Carolina. 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).


Certain statements contained or incorporated by reference in this press release may constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to Cogeco Cable's future outlook and anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate"; "predict"; "potential"; "continue"; "foresee", "ensure" or other similar expressions concerning matters that are not historical facts. In addition, statements regarding Cogeco Cable's future operating results and economic performance and its objectives and strategies are forward-looking statements. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities, which Cogeco Cable believes are reasonable as of the current date. While management considers these assumptions to be reasonable based on information currently available to Cogeco Cable, they may prove to be incorrect. Cogeco Cable cautions the reader that the economic downturn experienced over the past few years makes forward-looking information and the underlying assumptions subject to greater uncertainty and that, consequently, they may not materialize, or the results may significantly differ from Cogeco Cable's expectations. It is impossible for Cogeco Cable to predict with certainty the impact that the current economic uncertainties may have on future results. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what Cogeco Cable currently expects. These factors include technological changes, changes in market and competition, governmental or regulatory developments, general economic conditions, the development of new products and services, the enhancement of existing products and services, and the introduction of competing products having technological or other advantages, many of which are beyond Cogeco Cable's control. Therefore, future events and results may vary significantly from what management currently foresee. For more exhaustive information on these risks and uncertainties, the reader should refer to the risk factors described in the management's discussion and analysis of Cogeco Cable for the year ended August 31, 2012 and management's discussion and analysis of Cogeco Cable for the three and six month periods ended February 28, 2013. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While management may elect to, Cogeco Cable is under no obligation, and does not undertake to, update or alter this information at any particular time, except as may be required by law.

Contact Information

  • Andree Pinard
    Vice President and Treasurer