Cogeco Communications Inc. (TSX: CCA) (“Cogeco Communications” or the “Corporation”) announced today that it has priced an offering of an additional $200 million aggregate principal amount of its 5.299% senior secured notes due February 16, 2033 (the “Notes”).
The Notes will have identical terms (except for their date of issue, issue price, matters relating to the resale restriction and temporary security identifiers) and be fully fungible with and form a single series with the $300 million aggregate principal amount of 5.299% senior secured notes issued by the Corporation on February 16, 2023. The Notes will be issued at a price of 103.966% of their face value (plus accrued interest from February 16, 2026), for a reopening yield of 4.565%.
The Notes are being offered through an agency syndicate consisting of BMO Nesbitt Burns Inc., CIBC World Markets Inc. and National Bank Financial Inc., as joint bookrunners and co-lead managers, and including Merrill Lynch Canada Inc., Desjardins Securities Inc., RBC Dominion Securities Inc., MUFG Securities (Canada), Ltd., TD Securities Inc. and Casgrain & Company Limited, as co-managers.
The offering is expected to close on or about August 10, 2026, 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.
The Notes will be direct and unsubordinated secured debt obligations of Cogeco Communications and will rank equally and pari passu, with all other secured senior indebtedness of Cogeco Communications.
The Notes have been assigned a provisional rating of “BBB (low)” from DBRS Limited (DBRS Morningstar) with a “Stable” trend and a provisional rating of “BBB-” from Standard & Poor’s Ratings Services. The Notes are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation.
The Notes have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the Notes in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration under, or an applicable exemption from the registration requirements of, the U.S. Securities Act.
ABOUT COGECO COMMUNICATIONS INC.
Cogeco Communications Inc. is a leading telecommunications provider committed to bringing people together through powerful communications and entertainment experiences. We provide world-class Internet, wireless, video and wireline phone services to 1.6 million residential and business subscribers in Canada and thirteen states in the United States. Our services are marketed under the Cogeco and oxio brands in Canada, and under the Breezeline and welo brands in the U.S. We take pride in our strong presence in the communities we serve and in our commitment to a sustainable future. Cogeco Communications Inc.’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).
Source : Cogeco Communications Inc.
