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Atlantic Broadband will expand its operations across 11 states on the east coast of the US.

January 4, 2018

1 Min Read

MONTREAL -- Cogeco Communications Inc. (TSX: CCA) announced today that its subsidiary Atlantic Broadband has completed the acquisition of cable systems owned by Harron Communications, L.P. and operating under the MetroCast brand name (“MetroCast”).

Atlantic Broadband raised US$1.85 billion of secured debt through a combination of term loan B and revolving credit facility financings as well as US$315 million of equity through an investment by Caisse de dépôt et placement du Québec (“CDPQ”) for a 21% interest in Atlantic Broadband’s holding company. These proceeds were used to finance the US$1.4 billion purchase price and to refinance Atlantic Broadband’s existing debt.

With the completion of this transaction, Atlantic Broadband will expand its operations across 11 states on the east coast of the United States. On a pro forma basis, the combined company will have 1,250 employees and will generate over US$710 million in combined revenue.

As of today, MetroCast will maintain its existing brand name and will continue to offer its current TV, Internet and Phone services to business and residential customers. Starting in spring of 2018, MetroCast will begin offering a suite of enhanced services under the Atlantic Broadband brand name.

Cogeco Communications (Toronto: CCA)

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