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Cogeco Communications Seeks $500 Million From Senior Notes Offering

Cogeco Communications Inc. (TSX: CCA) priced on Monday night its planned private offering of senior secured notes. The firm is seeking to raise $500 million in aggregate principal amount.

The offering will consist of senior secured notes carrying an annual interest rate of 2.991%. It will be offered through an agency syndicate consisting of BMO Nesbitt Burns Inc. and CIBC World Markets Inc., as joint bookrunners.

The communications firm relayed that the proceeds from the offering are intended to fund spectrum auction spend, repay existing indebtedness, and for other general corporate purposes.

The private offering is expected to close on September 20, 2021, subject to customary closing conditions.

Cogeco Communications last traded at $114.77 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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