Shaw Communications Closes $600M Note Financing

On March 27, 2009, Shaw Communications Inc. completed an issue of $600 million aggregate principal amount of its 6.50 per cent Senior Notes due 2014. The offering was made in Canada pursuant to a prospectus supplement to Shaw's base shelf prospectus, and in the US pursuant to a registration statement filed by Shaw under the multi-jurisdictional disclosure system. The offering was led by TD Securities Inc. in a syndicate with RBC Dominion Securities Inc., CIBC World Markets Inc. and Scotia Capital Inc.

The net proceeds of this offering will be used for debt repayment or redemption, for working capital and for general corporate purposes.

Fraser Milner Casgrain LLP acted as Canadian counsel to Shaw under the direction of Paul Bachand, assistant corporate secretary and senior counsel. The FMC team consisted of Bill Jenkins, John Reynolds, Dorothy Dawe and Matt Sudak (securities) and Derek Kurrant and Kevin Scott (tax). Jeffrey Kesselman, Joseph Davis and Steve Miller of Denver-based Sherman & Howard L.L.C. acted as US counsel to Shaw.

The underwriters were represented, with respect to Canadian matters, by David Woollcombe, Frank DeLuca, Orysia Semotiuk and Jane Askeland (corporate/securities); James Morand (tax) and Hank Intven (regulatory) of McCarthy Tétrault LLP and, with respect to US matters, by Christopher Morgan, Ryan Dzierniejko and Julie Breau of Skadden, Arps, Slate, Meagher & Flom LLP.