Cogeco Communications

Press release details

COGECO CABLE INC. SECURES A FOUR-YEAR $750 MILLION CREDIT FACILITY

PRESS RELEASE
FOR IMMEDIATE RELEASE
Cogeco Cable Inc. secures a four-year $750 million credit facility
Montréal, July 7, 2010 – Cogeco Cable Inc. (TSX: CCA) ("Cogeco Cable") today announced that it
entered into a new credit agreement for a $750 million credit facility, with an option to increase to a
total amount of up to $1 billion, subject to lenders’ participation, in the form of a four-year Term
Revolving Facility.
The new facility, which replaces the existing $862.5 million Term Facility coming to maturity on
July 28, 2011, was arranged by a group of financial institutions led by Canadian Imperial Bank of
Commerce and Bank of Montreal. The new Term Revolving Facility will mature on July 11, 2014,
but may be extended by additional one-year periods on an annual basis, subject to lenders’
approval. The Term Revolving Facility is indirectly secured by a first priority fixed and oating
charge on substantially all present and future real and personal property and undertaking of every
nature and kind of the Corporation and certain of its subsidiaries, and provides for certain permitted
encumbrances, including purchased money obligations, existing funded obligations and charges
granted by any subsidiary prior to the date when it becomes a subsidiary, subject to a maximum
amount.
"The fact that Cogeco Cable secured this facility highlights the banking syndicate’s support for our
strategy, and demonstrates our sound financial position," said Louis Audet, President and CEO of
Cogeco Cable.
The new Term Revolving Facility extends Cogeco Cable’s borrowing flexibility and provides
continued liquidity within a strong capital structure. The facility will be used for general corporate
purposes and to facilitate growth opportunities.
ABOUT COGECO CABLE
Cogeco Cable (www.cogeco.ca) 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 its
business customers with data networking, e-business applications, video conferencing, web
hosting, Ethernet, private line, VoIP, HSI, black fibre, data storage and 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).
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Information: Catherine Pleau
Advisor, Corporate Communications
Tel: 514 764-4700