Shaw Communications Inc.

Shaw Communications Inc.

November 16, 2005 11:00 ET

Shaw Communications Announces Closing of Offering of Senior Notes

CALGARY, ALBERTA--(CCNMatthews - Nov. 16, 2005) - Shaw Communications Inc. (TSX:SJR.NV.B) (NYSE:SJR) announced today it has closed its offering of Cdn $450 million principal amount of 6.10% senior notes due 2012. 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.

Shaw Communications Inc. is a diversified Canadian communications company whose core business is providing broadband cable television, High-Speed 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 included in the S&P/TSX 60 index (Symbol: TSX - SJR.NV.B, NYSE - SJR).

Contact Information

  • Shaw Communications Inc.
    Steve Wilson
    Senior Vice-President and Chief Financial Officer
    (403) 750-4500