Cogeco Cable Inc. Secures a Five-Year $750 Million Credit Facility

MONTRÉAL, QUÉBEC--(Marketwire - Nov. 22, 2011) - Cogeco Cable Inc. (TSX:CCA) ("Cogeco Cable") today announced that it renewed its credit agreement for a $750 million credit facility, with an option to increase to a total amount of up to $1 billion, subject to lenders' participation, in the form of a five-year Term Revolving Facility.

The renewed Term Revolving Facility was arranged by a group of financial institutions led by Canadian Imperial Bank of Commerce and Bank of Montreal. The renewed Term Revolving Facility will mature on November 22, 2016, but may be extended by additional one-year periods on an annual basis, subject to lenders' approval. The Term Revolving Facility is indirectly secured by a first priority fixed and floating charge on substantially all present and future real and personal property and undertaking of every nature and kind of the Corporation and certain of its subsidiaries, and provides for certain permitted encumbrances, including purchased money obligations, existing funded obligations and charges granted by any subsidiary prior to the date when it becomes a subsidiary, subject to a maximum amount.

"The fact that Cogeco Cable renewed this facility for a five-year period highlights the banking syndicate's support for our strategy, and demonstrates our sound financial position," said Louis Audet, President and CEO of Cogeco Cable.

The renewed Term Revolving Facility extends Cogeco Cable's borrowing flexibility and provides continued liquidity within a strong capital structure. The facility will be used for general corporate purposes and to facilitate growth opportunities.

ABOUT COGECO CABLE

Cogeco Cable (www.cogeco.ca) is a telecommunications corporation and is the second largest hybrid fibre coaxial cable 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, data storage, data security, co-location services, managed IT services, cloud services and other advanced communication solutions. Cogeco Cable's subordinate voting shares are listed on the Toronto Stock Exchange (TSX:CCA).