Cogeco seeks to raise $300 million

MONTREAL - Cogeco Cable has announced a public debt offering of senior secured debentures series '1' worth up to $300 million. The Canadian and Portuguese cable company set the interest rate at 5.95% with a maturity date in June, 2014. The debentures will only be available in Canada, and proceeds will go towards reducing its debt. The company announced last month that it would issue up to $500 million in new debt. www.cogeco.ca