Date Closed

October 1, 2009

Lead Office

Toronto

Value

1.25 Billion CAD

On October 1, 2009, Shaw Communications Inc. closed an offering of C$1.25 billion principal amount of its 5.65% senior unsecured notes due 2019.  The offering is understood to have been the largest issue of ten year senior notes, and the second largest issue of senior notes of any tenor, completed by a "BBB" rated Canadian issuer in the domestic market (excluding issues by financial institutions).

Shaw will use the net proceeds of this offering for repayment or redemption of near-term maturing debt, including redemption of Shaw's US $440 million 8.25% Senior Notes due April 11, 2010 and US $225 million 7.25% Senior Notes due April 6, 2011, for potential acquisitions, for working capital and for general corporate purposes. 

The senior notes were made available in Canada and the United States, under Shaw's previously filed shelf prospectus, pursuant to an agency agreement with TD Securities Inc. acting as lead agent of a syndicate that included RBC Dominion Securities Inc., CIBC World Markets Inc., Scotia Capital Inc. and National Bank Financial Inc.

McCarthy Tétrault LLP represented the syndicate of underwriters in connection with the offering with a team that led by David Woodcombe.