Shaw's new senior notes could fund wireless venture

CALGARY - Shaw Communications has issued $650 million worth of senior unsecured notes which the company said could be put towards investments in wireless.The net proceeds of the offering will be also used for “general corporate purposes, working capital and capital expenditures”, Shaw said in a statement. The senior notes will be made available in Canada and the U.S. and closing is scheduled for November 9, 2009.Moody's Investors Service assigned a rating of Baa3 to the notes. Shaw's senior unsecured debt rating is also Baa3 and its ratings outlook is stable."We believe that a wireless product is strategically important to Shaw,"...