Cogeco Cable to raise $153 million via share issue

MONTREAL – Cogeco Cable Inc. has entered into an agreement with underwriters to raise $153 million through a share issue. A syndicate of underwriters led by BMO Capital Markets, including CIBC World Markets Inc., GMP Securities L.P., Scotia Capital Inc., Desjardins Securities Inc., and National Bank Financial Inc., have agreed to buy on a bought deal basis 3 million subordinate voting shares by way of a short form prospectus. Each voting share will cost $51.15, for gross proceeds of $153.45 million. The net proceeds will be used to reduce debt and for “general corporate purposes,” Cogeco says. The offering is...