Shaw Closes $800M Offering of Senior Notes

Shaw Communications Inc. completed an offering of $800 million aggregate principal amount of senior unsecured notes. The unsecured notes were issued in two tranches: a $500-million aggregate principal amount of 4.35 per cent senior notes due Jan. 31, 2024, and a $300-million aggregate principal amount of floating rate senior notes due Feb. 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 $600-million principal amount of senior notes due June 2, 2014 and for working capital and general corporate purposes.

Shaw was represented in-house by Peter Johnson, General Counsel and Corporate Secretary, and John Reynolds, Assistant General Counsel. Corporate counsel for Shaw was a team from Dentons Canada LLP comprised of Bill Jenkins and Dan Shea (capital markets); Stephanie Campbell (banking), Derek Kurrant (tax) and Greg Kane (regulatory).

The notes were sold through a syndicate of agents led by TD Securities Inc., and included CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Citigroup Global Markets Canada Inc., and National Bank Financial Inc. The agents were advised by McCarthy Tétrault LLP's David Woollcombe, Matthew Appleby and Graeme Norwood (capital markets); Gabrielle Richards (tax) and Grant Buchanan (regulatory).