Cogeco Communications

Press release details

COGECO CABLE INC. ANNOUNCES $173 MILLION OFFERING OF SUBORDINATE VOTING SHARES

TREASURY OFFERING OF SUBORDINATE VOTING SHARES
THIS MEDIA RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR F OR DISSEMINATION IN THE UNITED STATES
FOR IMMEDIATE RELEASE
COGECO CABLE INC. ANNOUNCES $173 MILLION OFFERING
OF SUBORDINATE VOTING SHARES
Montréal (Québec), January 17, 2007 – Cogeco Cable Inc. (the “Company” or the
“Issuer”) announced today that it will be issuing 4,500,000 subordinate voting shares (the
“Shares”) for total proceeds of $173,250,000 on a bought deal basis at a price of $38.50
per Share. Net proceeds from the offering shall be used by the Issuer to repay
indebtedness and for general corporate purposes. Under the offering, the Shares will be
offered for sale to the public in each of the provinces and territories of Canada.
The underwriting syndicate includes Scotia Capital Inc. acting as bookrunner and is being
co-led by GMP Securities L.P., BMO Nesbitt Burns Inc., CIBC World Markets Inc., and
includes Desjardins Securities Inc. and National Bank Financial Inc.
The Company has granted the underwriters an over-allotment option exercisable in whole
or in part for a period of 30 days following closing of the offering, to purchase up to an
additional 500,000 Shares on the same terms as set out above solely to cover over-
allotments, if any, and for market stabilization purposes. Should this option be fully
exercised, the total gross proceeds of the offering will be $192,500,000. The offering is
scheduled to close on or about February 2, 2007, subject to customary conditions.
About Cogeco Cable Inc.
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, Québec 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 about 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).
Contact:
Pierre Gagné
Vice President, Finance and
Chief Financial Officer
Tel: (514) 874-2600
Marie Carrier
Director, Corporate Communications
Tel.: (514) 874-2600