Cable Satisfaction International Inc. Amends The 260 Million Euro Credit Facility Allowing Access to Funds.Business Editors LONGUEUIL, Quebec--(BUSINESS WIRE)--Sept. 17, 2001 Cable Satisfaction International Inc. (Csii) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CSQ CSQ Certificat de Sélection du Québec (Quebec selection certificate; immigration document) CSQ Carrier Squelch (radio, scanner) CSQ Customer Satisfaction Questionnaire .A), through its Portuguese subsidiary, Cabovisao-Televisao Por Cabo, S.A. (Cabovisao), the leader in fixed alternative direct broadband communications and multimedia provider in Portugal, today announced that its subsidiary has executed amendments to its credit agreement with a syndicate of international bankers for a Credit Facility of up to 260 million Euro (approximately $371.2 million). Amounts are presented in Canadian dollars unless indicated otherwise. The amended credit agreement includes secured bridge and revolving advances. The bridge advance of up to 100 million Euro (approximately $142.8 million) is available with more flexible covenants. This bridge advance will mature 364 days from the date hereof and Cabovisao will refinance this facility from proceeds of the revolving facility of up to 260 million Euro. At the option of Cabovisao, the maturity date of the borrowings under the bridge advance may be extended to December 31, 2002 while the 260 million Euro revolving facility will mature in 2008. "These amendments give Cabovisao the necessary flexibility to fully utilize its credit facility of 260 million Euro and Cabovisao's business plan is now fully-funded," said Alain Dube, Executive Vice-President and Chief Financial Officer of Csii. The borrowings under the credit facility will be used to fund the development and construction of Csii's national fibre-optic backbone, regional hybrid fibre-optic Hybrid-Fiber-Optic is term used to describe the connection used by some television studio and field production video cameras that combine all video, audio, data, control, power, and other signals onto two single mode optical fibers and a few copper conductors in one jacket, coaxial (HFC 1. (networking) HFC - Hybrid Fiber Coax. 2. (hardware) HFC - hydrofluorocarbon. ) networks and the related infrastructure in Portugal. Forward-looking Statements The statements in this press release relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc matters that are not historical facts are forward-looking statements that involve risks and uncertainties, including, but not limited to, general business and economic conditions, the condition of the financial markets, the ability of Csii to obtain financing on favourable terms and the other risks and uncertainties detailed in the 2000 annual report of Csii in the Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial section. Csii builds and operates large bandwidth (750 Mhz) hybrid fiber coaxial (HFC) networks and, through its subsidiary Cabovisao, provides cable television services, high-speed Internet access, telephony and high-speed data transmission services in Portugal. The subordinate voting shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. of Csii are listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol CSQ.A. http://www.csii.ca |
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