Rogers 2006 Annual Report Download - page 117

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113
RO GER S CO MMU NIC AT ION S IN C . 20 0 6 ANN UA L RE POR T
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
27 SUB SEQU ENT EVE NTS
(A) On November 29, 2006, the CRTC approved the Company’s appli-
cation for the $40 million acquisition of five Alberta radio stations
announced earlier in 2006. The stations are located in Edmonton,
Fort McMurray and Grande Prairie, Alberta. The acquisition closed
on January 1, 2007.
(B) On February 6, 2007, Cable repaid, at maturity, the aggre-
gate principal amount outstanding of the $450 million 7.60% Senior
Secured Second Priority Notes, plus accrued interest, for a total of
$467 million.
(C ) On February 15, 2007, the Company declared a quarterly divi-
dend of $0.04 per share on each of its outstanding Class B Non-Voting
shares and Class A Voting shares. This quarterly dividend will be paid
on April 2, 2007 to shareholders of record on March 15, 2007.
(D) On March 6, 2007, Moody’s Investors Service upgraded Cable’s
senior secured debt rating to “Baa3” and on February 27, 2007, Fitch
Ratings upgraded Cable’s senior secured debt rating to “BBB-”. As
a result, since March 6, 2007, Cable has two required investment
grade ratings on its senior secured debt, which allows Cable, at its
discretion, to release the security on all of its senior secured debt as
described in note 15(b)(ii).