Date Closed

December 11, 2023

Lead Office

Montréal

Value

125.00 Million CAD

On December 11, 2023, Canadian Imperial Bank of Commerce (“CIBC”) and Cogeco Communications Inc. ("Cogeco Communications") entered into a three-year C$125 million non-revolving term credit facility in order finance Cogeco Communications' C$117 million repurchase for cancellation of 2,266,537 Cogeco Communications' subordinate voting shares from Cogeco.

CIBC, headquartered in Toronto, Ontario, is one of Canada's largest banks, offering a wide range of financial services, including personal and business banking, wealth management and capital markets. 

Cogeco communications, headquartered in Montreal, Quebec, is a leading telecommunications company in Canada, and one of the largest hybrid fibre coaxial cable operators in North America. The company operates through its business units, Cogeco Connexion and Breezline, offering internet, video, and phone services across Canada and thirteen states in the United States.

McCarthy Tétrault LLP advised CIBC with a team led by Marjolaine Hémond-Hotte that included Zachary Masoud (Financial Services), Étienne Guertin, Ariane Monjauze and Stacey Hogan (Business).