Corus Entertainment Completes High-Yield Offering

Corus Entertainment Inc. completed an offering of $550 million principal amount of 4.25 per cent senior unsecured guaranteed notes due 2020. The offering is understood to be one of the largest public offerings of non-investment grade debt completed in Canada to date.

The notes were publicly offered in Canada under Corus' shelf prospectus and in the US pursuant to Rule 144A by a syndicate of underwriters co-lead by TD Securities Inc. and BMO Nesbitt Burns Inc. and including RBC Dominion Securities Inc., Scotia Capital Inc., CIBC World Markets Inc. and National Bank Financial Inc.

Corus was represented by Fraser Milner Casgrain LLP (now Dentons Canada LLP) with a team that included Bill Jenkins, Toby Allan and Dan Shea (capital markets); Stephanie Campbell (banking) and Derek Kurrant (tax). Jason Lehner and Kevin Roggow (capital markets) of Shearman & Sterling LLP acted as US counsel to Corus.

The underwriters were represented by Stikeman Elliott LLP with a team that included Maurice Swan, Tim McCor-mick and Andrew Grant (capital markets) and Jonathan Willson (tax). Christopher Barry and Jodie Kaufman Davis (cap-ital markets) and John Hollinrake (tax) of Dorsey & Whitney LLP acted as US counsel to the underwriters.


Dentons Canada LLP Shearman & Sterling LLP Stikeman Elliott LLP Dorsey & Whitney LLP