COGECO CABLE PRICES DEBT OFFERING
PRESS RELEASE
For immediate release
Cogeco Cable prices debt offering
C$300 million 5.95% Senior Secured Debentures Series "1" due 2014
Montréal, June 4, 2009 — Cogeco Cable Inc. (TSX: CCA) ("Cogeco Cable") today
announced the pricing of a public debt offering of C$300 million Senior Secured
Debentures Series "1" (the "Debentures”). The Debentures will be offered through a
syndicate of underwriters led by CIBC World Markets Inc. which also includes BMO
Nesbitt Burns Inc., Scotia Capital Inc., Desjardins Securities Inc. and National Bank
Financial Inc. The underwriters are purchasing the Debentures pursuant to an
underwriting agreement entered into between Cogeco Cable and the syndicate of
underwriters on June 4, 2009.
The interest rate of the Debentures was set at 5.95% and priced at $99.881 per $100
principal amount for an effective yield of 5.978% per annum. Maturity was set in 5 years
on June 9, 2014.
The net proceeds of the sale of the Debentures will be used to reduce Cogeco Cable's
indebtedness. Closing of the offering is expected to occur on or about June 9, 2009.
Cogeco Cable will offer the Debentures to the public pursuant to a prospectus
supplement to its short form base shelf prospectus dated May 27, 2009, which will be
filed with the securities regulatory authorities in all provinces and territories in Canada.
The Debentures have not been and will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act"), or any state securities
laws and may not be offered or sold in the United States or to, or for the benefit of, U.S.
Persons (as defined in Regulation S of the U.S. Securities Act). This news release shall
not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any
sale of the Senior Debentures in any state in which such offer, solicitation or sale would
be unlawful.
Copies of the short form base shelf prospectus and the prospectus supplement relating
to the offering of the Debentures to be filed with securities regulatory authorities will be
available electronically at www.sedar.com
.
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ABOUT COGECO CABLE
Cogeco Cable (www.cogeco.ca), is a telecommunications company and is the second
largest cable operator in Ontario, Québec and Portugal, in terms of the number of Basic
Cable service customers served. Through its two-way broadband cable networks,
Cogeco Cable provides its residential customers with Audio, Analogue and Digital
Television, as well as HSI and Telephony services. Cogeco Cable also provides, to its
commercial customers, data networking, e-business applications, video conferencing,
hosting services, Ethernet, private line, VoIP, HSI access, dark fibre, data storage, data
security and co-location services and other advanced communication solutions. Cogeco
Cable’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX:
CCA).
NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained or incorporated by reference in this press release may
constitute forward-looking information within the meaning of securities laws. Forward-
looking information may relate to Cogeco Cable’s future outlook and anticipated events,
business, operations, financial performance, financial condition or results and, in some
cases, can be identified by terminology such as “may”, “will”, “should”, “expect”, “plan”,
“anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue”, “foresee”,
“ensure” or other similar expressions concerning matters that are not historical facts. In
particular, statements regarding Cogeco Cable’s future operating results and economic
performance and its objectives and strategies are forward-looking statements. These
statements are based on certain factors and assumptions including expected growth,
results of operations, performance and business prospects and opportunities which
Cogeco Cable believes are reasonable as of the current date. While management
considers these assumptions to be reasonable based on information currently available
to Cogeco Cable, they may prove to be incorrect. Cogeco Cable cautions the reader
that the current adverse economic conditions make forward-looking information and the
underlying assumptions subject to greater uncertainty and that, consequently, they may
not materialize, or the results may significantly differ from Cogeco Cable’s expectations.
It is impossible for Cogeco Cable to predict with certainty the impact that the current
economic downturn may have on future results. Forward-looking information is also
subject to certain factors, including risks and uncertainties, that could cause actual
results to differ materially from what Cogeco Cable currently expects. These factors
include technological changes, changes in market and competition, governmental or
regulatory developments, general economic conditions, the development of new
products and services, the enhancement of existing products and services and the
introduction of competing products having technological or other advantages, many of
which are beyond Cogeco Cable’s control. Therefore, future events and results may
vary significantly from what management currently foresees. For more exhaustive
information on these risks and uncertainties, prospective purchasers should refer to the
risk factors described in the management's discussion and analysis of Cogeco Cable for
the year ended August 31, 2008 and for the three and six-month period ended
February 28, 2009. Prospective purchasers should not place undue importance on
forward-looking information and should not rely upon this information as of any other
date. While management may elect to, Cogeco Cable is under no obligation and does
not undertake to update or alter this information at any particular time, except as may be
required by law.
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Information: Marie Carrier
Director, Corporate Communications
Tel.: (514) 764-4761
Alex Tessier
Treasurer
Tel.: (514) 764-4757