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Cogeco Communications Announces Private Offering of $325 Million 4.743% Senior Secured Notes
Cogeco Communications Announces Private Offering of $325 Million 4.743% Senior Secured Notes ...
About this update from Cogeco Communications Inc.
[{"type":"text","content":"\n\n\n\n Cogeco Communications Announces Private Offering of $325 Million 4.743% Senior Secured Notes\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./\n \n\n\n\n MONTRÉAL\n \n ,\n \n\n Feb. 4, 2025\n \n\n /CNW/ - Cogeco Communications Inc. (TSX: CCA) (\"Cogeco Communications\" or the \"Corporation\") announced today that it has priced an offering of $325 million aggregate principal amount of 4.743% senior secured notes due\n \n February 6\n \n , 2035 (the \"Notes\").\n \n\n The Notes are being offered through an agency syndicate consisting of BMO Nesbitt Burns Inc. and CIBC World Markets Inc., as joint bookrunners and co-lead managers, and including National Bank Financial Inc., as co-lead manager, and Desjardins Securities Inc., Merrill Lynch Canada Inc., RBC Dominion Securities Inc., MUFG Securities (\n \n Canada\n \n ), Ltd., TD Securities Inc. and Casgrain & Company Limited, as co-managers.\n \n\n The offering is expected to close on or about\n \n February 6, 2025\n \n , subject to customary closing conditions. Cogeco Communications intends to use the net proceeds of the offering to repay existing indebtedness and for other general corporate purposes.\n \n\n The Notes will be direct and unsubordinated secured debt obligations of Cogeco Communications and will rank equally and\n \n pari passu\n \n , with all other secured senior indebtedness of Cogeco Communications.\n \n\n The Notes have been assigned a provisional rating of \"BBB (low)\" from DBRS Limited (DBRS Morningstar) with a \"Stable\" trend and Cogeco Communications expects that the Notes will receive a rating of \"BBB-\" from Standard & Poor's Ratings Services. The Notes are being offered in\n \n Canada\n \n on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation.\n \n\n The Notes have not been and will not be qualified...