Shaw Announces C$1 Billion Senior Notes Offering
October 30 2018 - 10:45PM
Shaw Communications Inc. (“Shaw” or the “Corporation”) announced
today the terms of an offering of C$1 billion of senior notes,
comprised of C$500 million principal amount of 3.80% senior notes
due 2023 (the “2023 Notes”) and C$500 million principal amount of
4.40% senior notes due 2028 (the “2028 Notes”, and together with
the 2023 Notes, the “Notes”). The net proceeds of this offering
will be used for general corporate purposes, which may include the
repayment of outstanding indebtedness of the Corporation. Pending
any such use of net proceeds, the Corporation may invest the net
proceeds in bank deposits and short-term marketable securities.
Closing is scheduled to occur on November 2, 2018. Based on the
closing purchase price, the effective yield of the 2023 Notes and
the 2028 Notes is 3.800% and 4.435%, respectively, if held to
maturity.
The Notes will be made available in Canada,
under Shaw’s previously filed shelf prospectus, pursuant to an
agency agreement with TD Securities Inc. acting as sole bookrunner.
While the agents have agreed to use their best efforts to sell the
Notes, they will not be obligated to purchase any of the notes
which are not sold. Accordingly, the final amount of the offering
may potentially be reduced at closing.
A copy of the prospectus supplement may be
obtained from TD Securities Inc., Attention: Debt Syndication, 222
Bay St., 7th Floor, Toronto, Ontario M5K 1A2 or from the Canadian
Securities Administrators at www.sedar.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be
any sale of these securities in any jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About Shaw Communications
Inc.Shaw Communications Inc. is a leading Canadian
connectivity company. The Wireline division consists of Consumer
and Business services. Consumer serves residential customers with
broadband Internet, Shaw Go WiFi, video and digital phone. Business
provides business customers with Internet, data, WiFi, digital
phone, and video services. The Wireless division provides wireless
voice and data services through an expanding and improving mobile
wireless network infrastructure.
Shaw is traded on the Toronto and New York stock
exchanges and is included in the S&P/TSX 60 Index (Symbol: TSX
- SJR.B, SJR.PR.A, SJR.PR.B, NYSE – SJR, and TSXV – SJR.A). For
more information, please visit www.shaw.ca.
Caution Regarding Forward-Looking
Statements Statements included in this news release that
are not historic constitute forward looking statements within the
meaning of applicable securities laws. Such statements include but
are not limited to the timing of closing of the offering, and the
amount and use of net proceeds from the offering. These statements
are based on assumptions made by Shaw that it believes are
appropriate and reasonable in the circumstances, including without
limitation that Shaw will be able to close on the full amount of
the offering. It is possible that one or more of these assumptions
will not prove to be accurate. The forward-looking statements
herein are subject to risks, including risks associated with
capital and debt markets, and other risks as set forth in the base
shelf prospectus and prospectus supplement referenced above,
including the documents incorporated by reference therein.
Undue reliance should not be placed on any forward-looking
statement. Except as required by law, Shaw disclaims any obligation
to update any forward-looking statement.
For further information, please contact: Shaw
Investor Relations investor.relations@sjrb.ca
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