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Transaction/Case Details

Shaw Communications closes C$800 million offering of senior notes

DATE CLOSED

January 21, 2014

BUSINESS SECTOR

Communications

LEAD OFFICE

Toronto

VALUE

800 Million CAD


OVERVIEW

On January 31, 2014, Shaw Communications completed an offering of C$800 million aggregate principal amount of senior unsecured notes. The unsecured notes were issued in two tranches: a C$500 million aggregate principal amount of 4.35% senior notes due January 31, 2024, and a C$300 million aggregate principal amount of floating rate senior notes due February 1, 2016. The senior notes were made available in Canada under Shaw’s previously filed short form base shelf prospectus. The net proceeds from the offering were used to fund the early redemption of Shaw’s C$600 million principal amount of senior notes due June 2, 2014 and for working capital and general corporate purposes.

The notes were sold through a syndicate of agents led by TD Securities, and including CIBC World Markets, RBC Dominion Securities, Scotia Capital, Citigroup Global Markets Canada and National Bank Financial. 

Shaw Communications, headquartered in Calgary, Alberta, is a diversified communications and media company that provides broadband cable television, high-speed Internet, home phone and other telecommunications and satellite services and content. 

McCarthy Tétrault LLP represented the agents with a team led by David Woollcombe and including Matthew Appleby, Graeme Norwood, Gabrielle Richards and Grant Buchanan.

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