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68 COGECO CABLE INC. 2012 Consolidated financial statements
c) On June 9, 2009, the Corporation completed, pursuant to a public debt offering, the issue of $300 million Senior Secured Debentures
Series 1, net of discounts and transactions costs of $3.3 million, for net proceeds of $296.7 million. The Senior Secured Debentures
Series 1 are redeemable at the Corporation’s option, in whole or in part, at the greater of par value or the Canada bond yield plus
0.875%. These debentures mature on June 9, 2014 and bear interest at 5.95% per annum, payable semi-annually. These
debentures are indirectly secured by a first priority fixed and floating charge and a security interest on substantially all present and
future real and personal property and undertaking of every nature and kind of the Corporation and certain of its subsidiaries.
d) On November 16, 2010 the Corporation completed pursuant to a public debt offering, the issue of $200 million Senior Secured
Debentures Series 2 for net proceeds of $198.3 million net of discounts and transaction costs. These debentures mature on
November 16, 2020 and bear interest at 5.15% per annum payable semi-annually. These debentures are indirectly secured by a first
priority fixed and floating charge and a security interest on substantially all present and future real and personal property and
undertaking of every nature and kind of the Corporation and certain of its subsidiaries.
e) On February 14, 2012, the Corporation completed pursuant to a public debt offering, the issue of $200 million Senior Secured
Debentures Series 3. These Debentures mature on February 14, 2022 and bear interest at 4.925% per annum payable semi-
annually. These debentures are indirectly secured by a first priority fixed and floating charge and a security interest on substantially
all present and future real and personal property and undertaking of every nature and kind of the Corporation.
f) The Senior Secured Notes Series B were senior secured obligations and rank equally and rateably with all existing and future senior
indebtedness. These notes were indirectly secured by a first priority fixed and floating charge and a security interest on substantially
all present and future real and personal property and undertaking of every nature and kind of the Corporation and certain of its
subsidiaries. The notes were redeemable at the Corporation’s option at any time, in whole or in part, prior to maturity, at 100% of the
principal amount plus a make-whole premium. The Senior Secured Notes Series B were to mature on October 31, 2011 and had an
interest coupon rate of 7.73% per annum, payable semi-annually. On December 22, 2010, the Corporation redeemed the 7.73%
Senior Secured Notes Series B in the aggregate principal amount of $175 million. As a result, the aggregate redemption cash
consideration that the Corporation paid totalled $183.8 million excluding accrued interest. The excess of the redemption price over
the aggregate principal amount was recorded as financial expense during the second quarter of fiscal year 2011.
g) On March 5, 2008, the Corporation issued a $100 million Senior Unsecured Debenture by way of a private placement. The debenture
bears interest at a fixed rate of 5.936% per annum, payable semi-annually. The debenture matures on March 5, 2018 and is
redeemable at the Corporation’s option at any time, in whole or in part, prior to maturity, at 100% of the principal amount plus a make-
whole premium.
16. SHARE CAPITAL
AUTHORIZED
Unlimited number of:
Class A Preference shares, without voting rights, redeemable by the Corporation and retractable at the option of the holder at any time at
a price of $1 per share, carrying a cumulative preferential cash dividend at a rate of 11% of the redemption price per year.
Class B Preference shares, without voting rights, could be issued in series.
Multiple voting shares, 10 votes per share.
Subordinate voting shares, 1 vote per share.
ISSUED AND PAID
August 31, 2012
A
ugust 31, 2011 September 1, 2010
(In thousands of Canadian dollars, except number of shares) $ $ $
15,691,100 multiple voting shares 98,346 98,346 98,346
33,117,508 subordinate voting shares (33,073,656 at August 31, 2011 and 32,885,337 at
September 1, 2010) 899,997 898,327 892,332
998,343 996,673 990,678
149,802 subordinate voting shares held in trust under the Incentive Share Unit Plan (103,728 at
August 31, 2011 and 57,409 at September 1, 2010) (6,179) (3,751) (1,848)
992,164 992,922 988,830