Shaw Communications Inc.
TSX : SJR.NV.B
NYSE : SJR

Shaw Communications Inc.

November 09, 2005 15:23 ET

CORRECTION: Shaw Communications Announces Pricing of Offering of Senior Notes

CALGARY, ALBERTA--(CCNMatthews - Nov. 9, 2005) -

Please note that the press release sent November 9th, 2005 at 1:30pm ET was missing the sentence "For further information, including receipt of a prospectus relating to the offering, please contact the person noted below." The complete and updated release follows.

Shaw Communications Inc. (TSX:SJR.NV.B) (NYSE:SJR) announced today the terms of its offering of senior notes due 2012. The senior notes will be in the aggregate principal amount of Cdn. $450 million and will pay a coupon of 6.10%. Closing is scheduled to occur on November 16, 2005.

The Senior Notes were offered through an underwriting syndicate, with TD Securities Inc. as lead manager.

Shaw plans to use the net proceeds from the senior notes for debt repayment, including the redemption of its US $172.5 million 8.5% Series Canadian Originated Preferred Securities, and for working capital purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of any such jurisdiction.

Shaw Communications Inc. is a diversified Canadian communications company whose core business is providing broadband cable television, Internet, Digital Phone, telecommunications services (through Big Pipe Inc.) and satellite direct-to-home services (through Star Choice Communications Inc.) to approximately 3.0 million customers. Shaw is traded on the Toronto and New York stock exchanges and is a member of the S&P/TSX 60 index (Symbol: TSX - SJR.NV.B, NYSE - SJR).

This news release contains forward-looking statements that are based on current conditions and assumptions and that are not a guarantee of future events. Actual events could differ materially as a result of changes to Shaw's plans and the impact of events, risks and uncertainties. For a discussion of these factors, refer to Shaw's current annual information form, annual and quarterly reports to shareholders and other documents filed with regulatory authorities.

For further information, including receipt of a prospectus relating to the offering, please contact the person noted below.

Contact Information

  • Shaw Communications Inc.
    Steve Wilson
    Senior Vice-President and Chief Financial Officer
    (403) 750-4500
    Website: www.shaw.ca
    or
    Shaw Communications Inc.
    Suite 900, 630 - 3rd Avenue S.W.
    Calgary, Alberta T2P 4L4