Cable Satisfaction Completes $589M Financing

Cable Satisfaction International Inc. (CSii), which builds and operates broadband hybrid fiber-optic coaxial (HFC) networks, announced on March 21, 2000 that it had concluded a $589 million financing that consisted of a US$155 million cross-border senior notes offering and the establishment of a $260 million euro credit facility. The funding will be used to develop regional HFC networks and a national fibre-optic backbone for CSii's Portugese subsidiary, Cabovisao.

The lead underwriter for the cross-border senior notes offering was TD Securities (USA) Inc. and co-managers were BNP Paribas Group and ING Barings. Lenders under the credit facility include the Toronto-Dominion Bank Europe (UK) Limited, Caixa Geral de Depositos S.A. and Paribas.

Lavery, de Billy in Montreal acted for CSii on the financing with a team comprised of René Branchaud, Michel Servant and Larry Markowitz (Corporate and Securities), Pierre Denis (Banking) and Réal Favreau (Tax). Ted Maynard and Dan Miller of Paul, Weiss, Rifkind, Wharton & Garrison in New York provided US legal advice to CSii. Rohan Weerasinghe and Tom Friedmann of Shearman & Sterling (New York) acted as counsel to the underwriters under the cross-border senior notes offering, while Nicola Wherity of Clifford Chance LLP (London, England) acted as counsel to the lenders under the credit facility.