TORONTO, ONTARIO -- 10/07/08 --
Integrated Asset Management Corp. (TSX: IAM) ("IAM") and its private corporate debt group, Integrated Private Debt Corp.("IPD") announced today the closing of a C$30 million participation in the C$55 million / US$190 million Senior Secured Notes for Cogeco Cable Inc. (TSX: CCA). The Canadian dollar financing is a Series B 7.60% Senior Secured Note with a 10 year term. Proceeds of the loan will be used to refinance existing debt.
In terms of Basic Cable service customers served, Cogeco Cable Inc. is the second largest cable system operator in each of Ontario, Quebec and Portugal. The Corporation offers a wide range of broadcasting and telecommunications services to its residential and business customers in Canada and Portugal, including Analogue and Digital Television service, High Speed Internet and Telephony service.
John Robertson, President of IPD, said "we are pleased to continue our participation in the telecommunication sector and expand our relationship with Cogeco Cable's management and with Citigroup Global Markets Inc. and Banc of America Securities LLC. We look forward to working with Cogeco Cable as they continue to position themselves for growth".
IPD manages and provides funding from the $1.0 billion Integrated Private Debt Fund LPs on behalf of a number of pension funds and other institutional investors. IPD offers fixed rate, investment grade term loans to mid-market companies for such purposes as refinancing existing debt, plant expansion or modernization, project financing and management buyouts.
IAM is Canada's leading alternative asset management company, with approximately $3.5 billion in assets and committed capital under management in private debt, private equity, managed futures, real estate and retail alternative investments.
Contacts:
Integrated Private Debt Corp.
Doug Zinkiewich
Managing Director
(416) 933-8288
Email: dzinkiewich@iamgroup.ca
Website: www.iamgroup.ca
