/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TORONTO, Feb. 11, 2013 /CNW/ - Corus Entertainment Inc. ("Corus") (TSX: CJR.B) announced today that it has closed its
previously announced offering of Cdn $550 million principal amount of
4.25% senior unsecured guaranteed notes due 2020 (the "2020 Notes").
The 2020 Notes were publicly offered in each of the provinces of Canada
pursuant to a prospectus supplement dated February 6, 2013 to Corus'
previously filed short form base shelf prospectus dated February 4,
2013. The underwriting syndicate for the offering of the 2020 Notes
consisted of TD Securities Inc. and BMO Nesbitt Burns Inc., as joint
bookrunners, and included RBC Dominion Securities Inc., Scotia Capital
Inc., CIBC World Markets Inc. and National Bank Financial Inc.
Corus also announced today that it will exercise its right to redeem all
of its Cdn $500 million principal amount of 7.25% senior unsecured
guaranteed notes due 2017 (the "2017 Notes") on March 16, 2013 (the
"Redemption Date"). The redemption price for the 2017 Notes will be
determined, in accordance with the provisions of the trust indenture
dated February 11, 2010, among Corus, each subsidiary guarantor party
thereto and CIBC Mellon Trust Company (now BNY Trust Company of Canada)
(the "Trustee"), and will be equal to 103.625% of the principal amount
of the 2017 Notes plus accrued and unpaid interest up to but excluding
the Redemption Date.
Notice of redemption will be delivered today to CDS Clearing and
Depository Services Inc. ("CDS") and the Trustee. Non-registered
holders who maintain their interests in the 2017 Notes through CDS
should contact their CDS customer service representative with any
questions about the redemption.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities in any jurisdiction.
This news release is not an offer for sale within the United States of
any Notes or other securities of Corus. Securities of Corus, including
Notes, may not be offered or sold in the United States absent
registration under the U.S. securities laws or exemption from
registration under such laws. Any public offering of securities that
may be made in the United States will be made by means of a prospectus
that may be obtained from Corus and that will contain detailed
information about Corus, as well as financial statements.
About Corus Entertainment Inc.
Corus Entertainment Inc. is a Canadian-based media and entertainment
company. Corus is a market leader in specialty television and radio
with additional assets in pay television, television broadcasting,
children's book publishing, children's animation and animation
software. The Company's multimedia entertainment brands include YTV,
Treehouse, Nickelodeon (Canada), ABC Spark, W Network, OWN: Oprah
Winfrey Network (Canada), CosmoTV, Sundance Channel (Canada), Movie
Central, HBO Canada, Nelvana, Kids Can Press, Toon Boom and 37 radio
stations including CKNW AM 980, 99.3 The FOX, Country 105, 630 CHED,
Q107, and 102.1 the Edge. Corus creates engaging branded entertainment
experiences for its audiences across multiple platforms. A publicly
traded company, Corus is listed on the Toronto Stock Exchange (CJR.B).
Experience Corus on the web at www.corusent.com.
SOURCE: Corus Entertainment Inc.