New Issue: Shaw Communications upsized C$400 million 10-year notes yield 5.731%

By Paul A. Harris

St. Louis, Feb. 27 - Shaw Communications Inc. priced an upsized C$400 million issue of 5.7% 10-year senior notes (Ba1/BB+) at 99.767 to yield 5.731% in a quick-to-market Tuesday transaction, according to a market source.

TD Securities led the registered issue.

Proceeds will be used to reduce debt.

The issuer is a Calgary, Alta.-based diversified Canadian communications company.

Issuer:	Shaw Communications Inc.
Amount:	C$400 million (increased from C$350 million)
Maturity:	March 2, 2017
Security description:	Senior notes
Lead manager:	TD Securities
Co-managers:	RBC Capital Markets, CIBC World Markets, Scotia Capital, GMP Securities LP, Merrill Lynch & Co., NBF Securities
Coupon:	5.7%
Price:	99.767
Yield:	5.731%
Spread:	176 bps
Call protection:	Non-callable
Trade date:	Feb. 27
Settlement date:	March 2
Ratings:	Moody's: Ba1
	Standard & Poor's: BB+
Distribution:	Registered

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