Cogeco Cable Inc. completed a bought deal financing pursuant to which it issued 3 million subordinate voting shares for total gross proceeds of $153.45 million on August 9, 2007. The subordinate voting shares were sold to a syndicate of underwriters led by BMO Nesbitt Burns Inc. and including CIBC World Markets Inc., GMP Securities L.P., Scotia Capital Inc., Desjardins Securities Inc. and National Bank Financial Inc.
The net proceeds of the financing will be used by Cogeco Cable Inc. to reduce its long-term indebtedness.
Cogeco Cable Inc. was represented by Stikeman Elliott LLP in Montreal, with a team that included André Roy, Maxime Turcotte, Lydia Pham and Marie-Michèle Normandeau (corporate) and Luc Bernier and Jean-Guillaume Shooner (tax).
The underwriters were represented by Davies Ward Phillips & Vineberg LLP with a team that included Sylvain Cossette, Neil Kravitz, David Torralbo and Christopher Karambatsos.