Daily News: December 7, 2017

RBC Capital, TD Securities Extend Corus Facility


Corus Entertainment amended and extended the terms of its existing credit facility with its bank group led by RBC Capital Markets and TD Securities.

The term facility under the credit facility was adjusted from $2.3 billion to $2.1 billion, reflecting principal repayments made since the facility was established, and the maturity dates were extended to November 2021 for tranche 2 and November 2022 for tranche 1. The maturity date for the $300 million revolving facility has also been extended to November 2021.

Corus originally established the credit facility to partially fund its acquisition of Shaw Media, and to replace the company’s existing credit facilities. As of August 31, 2017, the term facilities were fully drawn and the company had approximately $300 million available to draw on under the revolving facility. The revolver is available on a revolving basis to finance permitted acquisitions and capital expenditures and for general corporate purposes.

Corus Entertainment is a media and content company that creates and delivers high quality brands and content across platforms for audiences around the world.