Cogeco 2008 Annual Report Download - page 70

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Notes to the Consolidated Financial Statements COGECO CABLE INC. 2008 69
22. SUBSEQUENT EVENT
On October 1, 2008, the Corporation completed, pursuant to a private placement, the issue of US$190 million Senior Secured Notes
Series A maturing October 1, 2015, and $55 million Senior Secured Notes Series B maturing October 1, 2018. The Senior Secured
Notes Series B bear interest at the coupon rate of 7.60% per annum, payable semi-annually. In addition, the Corporation entered
into cross-currency swap agreements to fix the liability for interest and principal payments on US$190 million of its Senior Secured
Notes Series A, which bear interest at the coupon rate of 7.00% per annum, payable semi-annually. Taking into account these
agreements, the effective interest rate of the Senior Secured Notes Series A is 7.24% and the exchange rate applicable to the
principal portion of the US dollar-denominated debt has been fixed at $1.0625.
23. COMPARATIVE FIGURES
Certain comparative figures have been reclassified to conform to the current year’s presentation.