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
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MONTREAL – Acting president of Cogeco Data Services, Ian Collins, announced his resignation effective June 24, 2009 in order “to pursue new career goals”.
President and CEO Louis Audet will assume the role temporarily while the company searches for a successor.
"Cogeco Data Services is a solid and promising business and we will work with the team in place to continue to develop our service offering”, Audet said in the statement announcing Collins’ departure. “The Company continues to deliver results and consistently meet the critical needs of its customers. I want to thank Mr. Collins for his contribution to Cogeco…
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MONTREAL – Canadian and Portuguese cable company Cogeco Cable says it will soon issue up to $500 million in new debt.
The company has filed with the securities regulators in each of the provinces and territories of Canada, a preliminary short form base shelf prospectus for the issuance of up to $500 million of debt securities, which may consist of debentures, notes or other types of debt securities.
These debt securities may be offered from time to time, during a twenty-five-month period for which the short form base shelf prospectus remains valid. The specific terms of any debt securities…
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MONTREAL – While its Canadian operations are clipping along just fine, competitive pressures are hammering its Cabovisao unit in Portugal, Cogeco Inc. announced today.
While consolidated revenue increased by 14.7% to $311.8 million in the second quarter of 2009, ended February 28th, as compared to Q2 of fiscal 2008, and by 16.5% to $620.2 million, in the first half – and consolidated operating income from continuing operations before amortization grew by 15.6% to reach $126.7 million, and by 19.9% to reach $251.4 million, the quarter was particularly unkind across the Atlantic.
“In the second quarter of fiscal 2009, the…
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MONTREAL – Cogeco has added a new Internet service to its lineup for Ontario and Quebec customers, called High Speed Internet (HSI) Lite Plus, and HSI Intermediaire, respectively.
The new package will allow download speeds of up to 3 Mpbs, and has a monthly load bit capacity of 20 GB.
"We believe that this new package will be highly attractive to clients who – while not heavy users – use the Internet every day. As people’s needs to share music, videos or other formats and demand for increasingly faster download speeds continue to grow, we are pleased to offer our customers…
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MONTREAL – Cogeco Cable has added Sportsnet East HD to its line-up in Quebec, in most of the areas where Cogeco offers digital and HD television.
The sports channel, which carries Ottawa Senators hockey, Blue Jays baseball, and other sports programming, is available on channel 545.
“Cogeco Cable is committed to enriching its customers’ HD Television viewing experience”, said Ron Perrotta, vice president of marketing and strategic planning, in the press release. “The addition of Sportsnet East HD to our Québec HD TV offering allows our viewers to discover the outstanding quality of this technology. Our HD programming now includes 24…
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MONTREAL – Despite the weakened economy, Cogeco Inc. maintained a solid growth curve in the first quarter of fiscal 2009, the company reported.
Consolidated revenue at Cogeco Cable (including its territories in Quebec, Ontario and Portugal) increased by 18.9% to $299.4 million, consolidated operating income before amortization grew by 23% to reach $119.7 million, consolidated net income amounted to $23.6 million, compared to $20.4 million for the same period of the prior year, an increase of 15.7%, free cash flow reached $17.8 million, a 17.6% decrease over the prior year, and operating margin increased to 40% from 38.6%.
Revenue-generating…
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TORONTO – Cogeco Data Services has signed a 10 year deal with the Toronto District School Board (TDSB) worth $39 million.
The agreement calls for Cogeco Data Services to provide the TDSB with a wide area network connection to approximately 600 schools and administrative buildings serving over 300,000 students and 30,000 educators and administrators. Cogeco Data Services will “increase the reach and capabilities of the (existing) fibre backbone” by constructing additional fibre optic cable throughout the city, and providing a “substantially higher capacity connection for each location”, the press release said. CDS is the former Toronto Hydro Telecom.
"The TDSB…
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TORONTO – Even in bad economic times, consumers will keep paying for cable, Internet and phone services, and choose to compromise in other purchase areas instead, according to Cogeco Cable’s president and CEO, Louis Audet.
“This has been our experience for the last 36 years – people tend to keep their television service (during difficult economic times),” Audet said. “And the Internet, of course, has become a necessity for households…and, of course, the phone.
“But on the other hand, what you do see is a slower rate of growth, or you might see a bit higher bad debt come…
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MONTREAL – Cogeco has added TSN2 and one of Canal Indigo channels to its HD lineup, and Teletoon Retro in SD to its digital platform in Quebec.
"By adding these three new channels to our digital and HD television line-ups, we are giving our customers the choice to watch even more of what they want," said Ron Perrotta, vice-president of marketing and strategic planning in a press release.
www.cogeco.ca
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