MONTREAL – Coegco has increased the speeds of its high speed Internet packages for Quebec customers, and rolled out new business and residential Internet packages in Drummondville.
Subscribers to the company’s ‘HSI Lite’ in the province can now enjoy download speeds of up to 12 Mbps, while ‘Lite Plus’ and ‘Standard’ package customers will benefit from increased speeds and higher monthly bit caps at no additional costs.
Cogeco’s customers in Drummondville who currently subscribe to its ‘Business HSI Enterprise’ service will be upgraded to its ‘Ultimate 50’ package at no extra cost. Powered by DOCSIS 3.0, the service includes a faster download speed of up to 50 Mbps, and an upload speed of up to 2 Mbps.
Residential customers in the city can now sign up for Cogeco’s ‘Ultimate 30’ package with speeds of up to 30 Mbps for downloads, up to 1.5 Mbps for uploads and a monthly download cap of 100 GB, or, its ‘Ultimate 50’ with speeds that can reach 50 Mbps for downloads and 1.5 Mbps for uploads with a monthly download cap of 150 GB.
The ‘Ultimate 30’ and ‘Ultimate 50’ packages will be rolled-out gradually throughout its service territory, Cogeco said.
In other company news, Cogeco announced that it has entered into a new credit agreement for $750 million, with an option to increase to a total amount of up to $1 billion, in the form of a four year term revolving facility.
The new term revolving facility extends the company’s borrowing flexibility and provides continued liquidity within a strong capital structure, Cogeco said. The facility will be used for “general corporate purposes and to facilitate growth opportunities”.
"The fact that Cogeco Cable secured this facility highlights the banking syndicate’s support for our strategy, and demonstrates our sound financial position," said president and CEO Louis Audet, in a statement.
The new facility, which replaces the existing $862.5 million term facility coming to maturity on July 28, 2011, was arranged by a group of financial institutions led by Canadian Imperial Bank of Commerce and Bank of Montreal.
