MONTREAL, Feb. 2 /CNW Telbec/ - Cogeco Cable Inc. (TSX: CCA) (the "Corporation"), the second cable telecommunications company in Quebec, Ontario and Portugal, announced today that, under the governing Trust Indenture dated July 31, 1997, the Corporation has given a notice of redemption and offer to purchase to the holders of its 8.44% Second Secured Debentures, Series "A" in the aggregate principal amount of $125,000,000 due July 31, 2007 (the "Notes").
The Corporation is offering to purchase for cancellation on February 12, 2007 (the "Purchase Date") all of the validly issued and held Notes from each holder of Notes at a price equal to $101.995 per $100.00 in principal amounts of the Notes.
Subsequent to the Purchase Date, all outstanding Notes will be redeemed on March 5, 2007 (the "Redemption Date") at a redemption price equal to the greater of the Canada Yield Price and their principal amount, together with accrued and unpaid interest to the Redemption Date (the "Redemption Price"). The Redemption Price of the Notes shall be payable upon presentment and surrender of the Notes at the principal office of the trustee, Montreal Trust Company of Canada, (the "Trustee") in Montreal, Quebec. Interest on the principal amount of the Notes called for redemption shall cease to accrue from and after the Redemption Date.
ABOUT COGECO CABLE
Cogeco Cable (www.cogeco.ca), a telecommunications company offering a diverse range of services to its customers in Canada and in Portugal, is the second largest cable operator in Ontario, Quebec and Portugal, in terms of the number of basic cable service customers served. The Corporation invests in state-of-the-art broadband network facilities, delivers a wide range of services over these facilities with great speed and reliability at attractive prices, and strives to provide both superior customer care and growing profitability to satisfy its customers' varied electronic communication needs. Through its two-way broadband cable networks, Cogeco Cable provides its residential and commercial customers with analog and digital video and audio services, high speed Internet access as well as telephony services. The Corporation provides about 1,649,000 revenue-generating units (RGUs) to approximately 1,439,000 homes passed in its Canadian service territory and 650,000 RGUs to approximately 829,000 homes passed in its Portuguese service territory. Cogeco Cable's subordinate voting shares are listed on the Toronto Stock Exchange (CCA).