Shaw Announces C$800 Million Senior Notes Offering
December 05 2019 - 7:01PM
Shaw Communications Inc. (“Shaw” or the “Corporation”) announced
today the terms of an offering of C$800 million of senior notes,
comprised of C$500 million principal amount of 3.30% senior notes
due 2029 (the “2029 Notes”) and C$300 million principal amount of
4.25% senior notes due 2049 (the “2049 Notes”, and together with
the 2029 Notes, the “Notes”). The net proceeds of this offering
will be used to fund the repayment or redemption of the C$500
million principal amount of senior notes due December 7, 2020
and/or C$300 million principal amount of senior notes due February
19, 2021 and/or for working capital and general corporate purposes.
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 December 9, 2019.
Based on the closing purchase price, the effective yield of the
2029 Notes and the 2049 Notes is 3.356% and 4.281%, 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 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 LTE
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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