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The latest announcement is out from Cogeco Communications ( (TSE:CCA) ).
Cogeco Communications Inc. has announced a private offering of $325 million in senior secured notes due in 2035, with an interest rate of 4.743%. The proceeds from this offering will be used to repay existing debt and for general corporate purposes, aiming to maintain the company’s financial flexibility. The notes are rated ‘BBB (low)’ by DBRS Limited with a stable outlook and are expected to be rated ‘BBB-‘ by Standard & Poor’s. This move reflects Cogeco’s strategic financial management and positions it to further solidify its market presence.
More about Cogeco Communications
Cogeco Communications Inc. is a prominent telecommunications provider offering internet, video, and wireline phone services to 1.6 million subscribers in Canada and the U.S. The company also provides wireless services in its U.S. territories, operating under the Cogeco, oxio, and Breezeline brands. It is known for its community involvement and commitment to sustainability, with its shares traded on the Toronto Stock Exchange.
YTD Price Performance: -10.63%
Average Trading Volume: 10,168
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $1.76B
For a thorough assessment of CCA stock, go to TipRanks’ Stock Analysis page.
