Cogeco Câble inc.
TSX : CCA

Cogeco Câble inc.

December 20, 2010 14:25 ET

Cogeco Cable Inc. Announces Determination of Prepayment Price for the 7.73% Series B Senior Secured Notes Due 2011

MONTREAL, QUEBEC--(Marketwire - Dec. 20, 2010) - Cogeco Cable Inc. (TSX:CCA) ("Cogeco Cable") announced today that it has determined the prepayment price for its outstanding $175 million principal amount of 7.73% Series B Senior Secured Notes due October 31, 2011 (the "2001 Notes"). The prepayment price is $106.11811 per $100 of the principal amount of the 2001 Notes, which includes $1.10126 in accrued interest on the prepayment date.

The prepayment the 2001 Notes will be completed on December 22, 2010 and the aggregate prepayment price will be paid out of the net proceeds of Cogeco Cable's recently completed public debt offering of $200 million of 5.15% Senior Secured Debentures Series "2" due November 16, 2020.

ABOUT COGECO CABLE

Cogeco Cable (www.cogeco.ca) is a telecommunications company and is the second largest hybrid fibre coaxial cable system operator in Ontario, Québec and Portugal. Through its two-way broadband cable networks, Cogeco Cable provides its residential customers with Audio, Analogue and Digital Television, as well as HSI and Telephony services. Cogeco Cable also provides to its commercial customers, through its subsidiary Cogeco Data Services, data networking, e-business applications, video conferencing, hosting services, Ethernet, private line, VoIP, HSI access, dark fibre, data storage, data security and co-location services and other advanced communication solutions. Cogeco Cable's subordinate voting shares are listed on the Toronto Stock Exchange (TSX:CCA).

NOTE REGARDING FORWARD-LOOKING STATEMENTS

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 particular, 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 two years make 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 this economic environment 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 foresees. For more exhaustive information on these risks and uncertainties, prospective purchasers should refer to the risk factors described in the management's discussion and analysis of Cogeco Cable for the year ended August 31, 2010. Prospective purchasers 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

  • Cogeco Cable Inc.
    Alex Tessier
    Vice President and Treasurer
    514-764-4700