Business
Cogeco Cable Inc. announces the redemption of 8.44% Second Secured Debentures
Cogeco Cable Inc. announces the redemption of 8.44% Second Secured Debentures.
About this update from Cogeco Communications Inc.
[{"type":"text","content":"\n\n\n\nMONTREAL, Feb. 2 /CNW Telbec/ - Cogeco Cable Inc. (TSX: CCA)\n(the \"Corporation\"), the second cable telecommunications company in Quebec,\nOntario and Portugal, announced today that, under the governing Trust\nIndenture dated July 31, 1997, the Corporation has given a notice of\nredemption and offer to purchase to the holders of its 8.44% Second Secured\nDebentures, Series \"A\" in the aggregate principal amount of $125,000,000 due\nJuly 31, 2007 (the \"Notes\").\n\n\nThe Corporation is offering to purchase for cancellation on February 12,\n2007 (the \"Purchase Date\") all of the validly issued and held Notes from each\nholder of Notes at a price equal to $101.995 per $100.00 in principal amounts\nof the Notes.\n\n\nSubsequent to the Purchase Date, all outstanding Notes will be redeemed\non March 5, 2007 (the \"Redemption Date\") at a redemption price equal to the\ngreater of the Canada Yield Price and their principal amount, together with\naccrued and unpaid interest to the Redemption Date (the \"Redemption Price\").\nThe Redemption Price of the Notes shall be payable upon presentment and\nsurrender of the Notes at the principal office of the trustee, Montreal Trust\nCompany of Canada, (the \"Trustee\") in Montreal, Quebec. Interest on the\nprincipal amount of the Notes called for redemption shall cease to accrue from\nand after the Redemption Date.\n\n\nABOUT COGECO CABLE\n\n\nCogeco Cable (www.cogeco.ca), a telecommunications company offering a\ndiverse range of services to its customers in Canada and in Portugal, is the\nsecond largest cable operator in Ontario, Quebec and Portugal, in terms of the\nnumber of basic cable service customers served. The Corporation invests in\nstate-of-the-art broadband network facilities, delivers a wide range of\nservices over these facilities with great speed and reliability at attractive\nprices, and strives to provide both superior customer care and growing\nprofitability to satisfy its customers' varied electronic communication needs.\nThrough its two-way broadband cable networks, Cogeco Cable provides its\nresidential and commercial customers with analog and digital video and audio\nservices, high speed Internet access as well as telephony services. The\nCorporation provides about 1,649,000 revenue-generating units (RGUs) to\napproximately 1,439,000 homes passed in its Canadian...