On February 10, 2003, Shaw Communications Inc. entered into a $350 million credit facility with a syndicate of banks led by The Toronto-Dominion Bank, as agent. Shaw used the majority of the proceeds of the facility to purchase preferred shares in the capital stock of its subsidiary, Canadian Satellite Communications Inc. (Cancom). Cancom then used the proceeds of the sale of the preferred shares to Shaw to pay out in full and terminate its existing senior credit facility. At the same time, Cancom also restructured certain other credit arrangements.
Bill Jenkins, Tom Pepevnak, Andrew Donohoe and Jason Barabash of Fraser Milner Casgrain LLP acted for Shaw and Cancom, under the direction of Ronald Rogers, senior vice-president and CFO, and David Taniguchi, senior counsel and assistant corporate secretary. The bank and the syndicate of lenders were represented by Stephen Furlan, Barry Ryan and Sumit Soni of McCarthy Tétrault LLP.
Bill Jenkins, Tom Pepevnak, Andrew Donohoe and Jason Barabash of Fraser Milner Casgrain LLP acted for Shaw and Cancom, under the direction of Ronald Rogers, senior vice-president and CFO, and David Taniguchi, senior counsel and assistant corporate secretary. The bank and the syndicate of lenders were represented by Stephen Furlan, Barry Ryan and Sumit Soni of McCarthy Tétrault LLP.
