Corus Entertainment Announces Closing of Offering of Cdn $550 Million of 4.25%
Senior Unsecured Guaranteed Notes Due 2020 and Redemption of 7.25% Senior
Unsecured Guaranteed Notes Due 2017
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES/
TORONTO, Feb. 11, 2013 /CNW/ - Corus Entertainment Inc. ("Corus") (TSX: CJR.B)
announced today that it has closed its previously announced offering of Cdn
$550 million principal amount of 4.25% senior unsecured guaranteed notes due
2020 (the "2020 Notes").
The 2020 Notes were publicly offered in each of the provinces of Canada
pursuant to a prospectus supplement dated February 6, 2013 to Corus'
previously filed short form base shelf prospectus dated February 4, 2013. The
underwriting syndicate for the offering of the 2020 Notes consisted of TD
Securities Inc. and BMO Nesbitt Burns Inc., as joint bookrunners, and included
RBC Dominion Securities Inc., Scotia Capital Inc., CIBC World Markets Inc. and
National Bank Financial Inc.
Corus also announced today that it will exercise its right to redeem all of
its Cdn $500 million principal amount of 7.25% senior unsecured guaranteed
notes due 2017 (the "2017 Notes") on March 16, 2013 (the "Redemption Date").
The redemption price for the 2017 Notes will be determined, in accordance with
the provisions of the trust indenture dated February 11, 2010, among Corus,
each subsidiary guarantor party thereto and CIBC Mellon Trust Company (now BNY
Trust Company of Canada) (the "Trustee"), and will be equal to 103.625% of the
principal amount of the 2017 Notes plus accrued and unpaid interest up to but
excluding the Redemption Date.
Notice of redemption will be delivered today to CDS Clearing and Depository
Services Inc. ("CDS") and the Trustee. Non-registered holders who maintain
their interests in the 2017 Notes through CDS should contact their CDS
customer service representative with any questions about the redemption.
This news release does not constitute an offer to sell or the solicitation of
an offer to buy any securities in any jurisdiction. This news release is not
an offer for sale within the United States of any Notes or other securities of
Corus. Securities of Corus, including Notes, may not be offered or sold in the
United States absent registration under the U.S. securities laws or exemption
from registration under such laws. Any public offering of securities that may
be made in the United States will be made by means of a prospectus that may be
obtained fromCorus and that will contain detailed information aboutCorus,
as well as financial statements.
About Corus Entertainment Inc.
Corus Entertainment Inc. is a Canadian-based media and entertainment
company. Corus is a market leader in specialty television and radio with
additional assets in pay television, television broadcasting, children's book
publishing, children's animation and animation software. The Company's
multimedia entertainment brands include YTV, Treehouse, Nickelodeon (Canada),
ABC Spark, W Network, OWN: Oprah Winfrey Network (Canada), CosmoTV, Sundance
Channel (Canada), Movie Central, HBO Canada, Nelvana, Kids Can Press, Toon
Boom and 37 radio stations including CKNW AM 980, 99.3 The FOX, Country 105,
630 CHED, Q107, and 102.1 the Edge. Corus creates engaging branded
entertainment experiences for its audiences across multiple platforms. A
publicly traded company, Corus is listed on the Toronto Stock Exchange
(CJR.B). Experience Corus on the web at www.corusent.com.
John Cassaday President and Chief Executive Officer Corus Entertainment
Tom Peddie Executive Vice President and Chief Financial Officer Corus
Entertainment Inc. 416.479.6080 Sally Tindal Director, Communications Corus
Entertainment Inc. 416.479.6107
SOURCE: Corus Entertainment Inc.
To view this news release in HTML formatting, please use the following URL:
CO: Corus Entertainment Inc.
NI: ENT TVNEWS NEWSTK
-0- Feb/11/2013 22:15 GMT
Press spacebar to pause and continue. Press esc to stop.