Business & Finance
Business and Finance
Business and Finance
Fri, January 23, 2009
Thu, January 22, 2009 Cogeco Cable inc.: Cogeco Cable Enters Into a Swap Agreement to Fix a Portion of its Euro Denominated Floating Rate Term Facili
MONTREAL, QUEBEC--(Marketwire - Jan. 22, 2009) - Cogeco Cable (TSX:CCA) announces that it has entered into a swap agreement with a financial institution to fix the floating benchmark interest rate with respect to the Euro denominated Term Loan facilities for a notional amount of 111,5 million Euros.
The interest swap rate to hedge the term Loans has been fixed at 2.08% until their maturity date of July 28, 2011. The notional value of the swap will reduce in line with the amortization schedule of the Term Loans. In addition to the interest swap rate of 2.08%, Cogeco Cable will continue to pay the applicable margin on these Term Loans in accordance with its Term Facility.
ABOUT COGECO CABLE
Cogeco Cable ([ www.cogeco.ca ]), is a telecommunications company and is the second largest cable operator in Ontario, Quebec and Portugal, in terms of the number of Basic Cable service customers served. Through its two-way broadband cable networks, Cogeco Cable provides its residential customers with Audio, Analogue and Digital Television, as well as HSI and Telephony services. Cogeco Cable also provides, to its commercial customers, data networking, e-business applications, video conferencing, hosting services, Ethernet, private line, VoIP, HSI access, dark fibre, data storage, date security and co-location services and other advanced communication solutions. Cogeco Cable's subordinate voting shares are listed on the Toronto Stock Exchange (TSX:CCA).
