Shaw Communications Closes $650M 30-Year Senior Note Offering

On November 9, 2009, Shaw Communications Inc. closed an offering of $650 million principal amount of 6.75 per cent senior unsecured notes due 2039. This financing is the largest BBB rated 30-year debt financing ever completed in Canada.

The net proceeds of the offering will be used for general corporate purposes, working capital, capital expenditures and wireless investments. The senior notes were made available in Canada and the United States, under Shaw's previously filed shelf prospectus, pursuant to an agency agreement with TD Securities Inc. and RBC Dominion Securities Inc. acting as co-lead agents.

Shaw Communications Inc. was represented by Paul Bachand, assistant corporate secretary and senior counsel. Fraser Milner Casgrain LLP was Canadian legal counsel to Shaw with a team consisting of William Jenkins, John Reynolds, Shannon Ward and Keith Inman (securities) and Derek Kurrant (tax). Fasken Martineau DuMoulin LLP served as special regulatory counsel to Shaw in this transaction with a team consisting of Joel Fortune, Laurence Dunbar, Scott Prescott and Stephen Whitehead. Sherman & Howard L.L.C. in Denver, Colorado, was US counsel to Shaw with a team consisting of Steven Miller, Jeffrey Kesselman and Joseph Davis (corporate and securities) and Michael Dubetz (tax).

The agents were represented in Canada by McCarthy Tétrault LLP with a team that included David Woollcombe, Frank DeLuca, Daniel Bornstein and Matthew Hall (corporate and securities) and James Morand (tax); and in the US by Skadden, Arps, Slate, Meagher & Flom LLP with a team that included Christopher Morgan, Ryan Dzierniejko and Sarah Ward (corporate and securities) and Aaron Feinberg (tax).