Shaw 2009 Annual Report Download - page 79

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Burrard Landing Lot 2 Holdings Partnership
The Company has a 33.33% interest in the Partnership which built the Shaw Tower project with
office/retail space and living/working space in Vancouver, BC. In the fall of 2004, the commercial
construction of the building was completed and at that time, the Partnership issued 10 year secured
mortgage bonds in respect of the commercial component of the Shaw Tower. The bonds bear
interest at 6.31% compounded semi-annually and are collateralized by the property and the
commercial rental income from the building with no recourse to the Company.
Debt retirement costs
In connection with the aforementioned early redemption of the Videon Cablesystems Inc.
Cdn$130,000 Senior Debentures, the Company incurred costs of $9,161 and wrote-off the
remaining unamortized fair value adjustment of $906.
On January 30, 2008, the Company redeemed its $100,000 8.54% Canadian Originated Preferred
Securities (“COPrS”). In connection with this early redemption, the Company incurred costs of
$4,272 and wrote-off the remaining unamortized financing charges of $992.
Debt covenants
The Company and its subsidiaries have undertaken to maintain certain covenants in respect of the
credit agreements and trust indentures described above. The Company and its subsidiaries were in
compliance with these covenants at August 31, 2009.
Long-term debt repayments
Mandatory principal repayments on all long-term debt in each of the next five years and thereafter
are as follows:
At year-end
exchange rate
$
Exchange rate
adjusted for
hedged rates
$
2010 482,341 643,161
2011 246,951 356,414
2012 329,113 477,463
2013 450,652 450,652
2014 950,694 950,694
Thereafter 718,498 718,498
3,178,249 3,596,882
75
Shaw Communications Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
August 31, 2009, 2008 and 2007
[all amounts in thousands of Canadian dollars except share and per share amounts]