Corus Entertainment amends credit facility, extends maturities

By Tali Rackner

Minneapolis, Dec. 6 – Corus Entertainment Inc. amended and extended its existing credit facility with RBC Capital Markets LLC and TD Securities, according to a press release.

Under the amendment, the term facility was adjusted to C$2.1 billion from C$2.3 billion, reflecting principal repayments made since the facility was established.

In addition, the tranche 2 maturity was extended to November 2021 and tranche 1 to November 2022.

The maturity date for the C$300 million revolving facility was also extended to November 2021.

The credit facility was originally established in connection with the closing of Corus' acquisition of Shaw Media Inc.

As of Aug. 31, the term facilities were fully drawn and the company had about C$300 million available under the revolver, all of which could be drawn.

Corus Entertainment is a media and entertainment company based in Calgary, Alta.

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