Videotron Ltd. Announces Notice of Redemption for its 6 7/8% Senior Notes due January 15, 2014
February 29 2012 - 6:38PM
Marketwired
Videotron Ltd. ("Videotron") today announced that it has issued a
notice of redemption for the entire outstanding principal amount of
its 6 7/8% Senior Notes due January 15, 2014 (CUSIP 92658TAG3) (the
"Notes"). A notice of redemption (the "Redemption Notice") pursuant
to the terms of the indenture governing the Notes (the "Indenture")
is being distributed by Wells Fargo Bank, National Association, the
trustee under the Indenture. The Redemption Notice issued today
states that the redemption date is March 30, 2012 (the "Redemption
Date"), and the redemption price is 100.000% of the principal
amount of the Notes redeemed, plus accrued and unpaid interest to
the Redemption Date.
Any Notes not validly tendered and accepted for purchase in the
cash tender offer to purchase any and all of the Notes, which was
announced earlier today by Videotron, would therefore be redeemed
in accordance with the Redemption Notice on the Redemption Date.
Questions regarding this redemption should be directed to Wells
Fargo Bank, National Association, by telephone at 1-800-344-5128 or
by facsimile at (612) 667-6282.
This announcement does not constitute an offer to buy or the
solicitation of an offer to sell securities in any jurisdiction or
in any circumstances in which such offer or solicitation is
unlawful. The securities mentioned herein have not been registered
under the United States Securities Act of 1933 or applicable state
securities laws, and the securities may not be offered or sold in
the United States absent registration or an applicable exemption
from registration. The securities mentioned herein have not been
and will not be qualified for sale to the public under applicable
Canadian securities laws and, accordingly, any offer and sale of
the securities in Canada will be made on a basis which is exempt
from the prospectus and dealer registration requirements of such
securities laws.
Any purchase of Videotron's 6 7/8% Senior Notes due 2014 will be
made pursuant to Videotron's Offer to Purchase dated February 29,
2012 and the related letter of transmittal. Any redemption of the 6
7/8% Senior Notes due 2014 will be made pursuant to a notice of
redemption under the indenture governing such notes.
About Videotron
Videotron, a wholly-owned subsidiary of Quebecor Media Inc., is
an integrated communications company engaged in cable television,
interactive multimedia development, and Internet access, cable
telephone and mobile telephone services. Videotron is a leader in
new technologies with its interactive Digital TV service and its
broadband network, which supports high-speed cable Internet access,
analog and digital cable television, and other services. As of
December 31, 2011, Videotron was serving 1,861,477 cable television
customers, including 1,400,814 subscribers to its digital service.
Videotron is also the Quebec leader in high-speed Internet access,
with 1,332,551 subscribers to its cable service as of December 31,
2011. As of the same date, Videotron had 290,578 subscriber
connections to its mobile telephone service and was providing cable
telephone service to 1,205,272 Quebec households and organizations.
For the seventh consecutive year, Videotron was named Quebec's most
respected telecommunications company by Les Affaires magazine,
based on a Leger Marketing survey.
Forward-Looking Statements
This news release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation and
"forward-looking statements" within the meaning of United States
federal securities legislation (collectively, "forward-looking
statements"). All statements other than statements of historical
facts included in this press release, including statements
regarding our industry and our prospects, plans, financial position
and business strategy, may constitute forward-looking statements.
These forward-looking statements are based on current expectations,
estimates, forecasts and projections about the industries in which
we operate as well as beliefs and assumptions made by our
management. Such statements include, in particular, statements
about our plans, prospects, financial position and business
strategies.
Words such as "may," "will," "expect," "continue," "intend,"
"estimate," "anticipate," "plan," "foresee," "believe" or "seek" or
the negatives of these terms or variations of them or similar
terminology are intended to identify such forward-looking
statements. Although we believe that the expectations reflected in
these forward-looking statements are reasonable, these statements,
by their nature, involve risks and uncertainties and are not
guarantees of future performance. Such statements are also subject
to assumptions concerning, among other things: our anticipated
business strategies; anticipated trends in our business; and our
ability to continue to control costs. We can give no assurance that
these estimates and expectations will prove to have been correct.
Actual outcomes and results may, and often do, differ from what is
expressed, implied or projected in such forward-looking statements,
and such differences may be material. Some important factors that
could cause actual results to differ materially from those
expressed in these forward-looking statements include, but are not
limited to: general economic, financial or market conditions; the
intensity of competitive activity in the industries in which we
operate, including competition from alternative means of programs
and content transmission; new technologies that would change
consumer behaviour toward our product suite; unanticipated higher
capital spending required or to address continued development of
competitive alternative technologies or the inability to obtain
additional capital to continue the development of our business; our
ability to implement successfully our business and operating
strategies and manage our growth and expansion; disruptions to the
network through which we provide our digital television, Internet
access and telephony services, and our ability to protect such
services from piracy; labour disputes or strikes; changes in our
ability to obtain services and equipment critical to our
operations; changes in laws and regulations, or in their
interpretations, which could result, among other things, in the
loss (or reduction in value) of our licenses or markets or in an
increase in competition,
compliance costs or capital expenditures; our substantial
indebtedness, the tightening of credit markets, and the
restrictions on our business imposed by the terms of our debt; and
interest rate fluctuations that affect a portion of our interest
payment requirements on long-term debt. We caution you that the
above list of cautionary statements is not exhaustive.
These and other factors could cause actual results to differ
materially from our expectations expressed in the forward-looking
statements included in this press release, and you are encouraged
to read "Item 3. Key Information - Risk Factors" as well as
statements located elsewhere in Videotron's annual report on Form
20-F for the year ended December 31, 2010 for further details and
descriptions of these and other factors. Each of these
forward-looking statements speaks only as of the date of this press
release. We will not update these statements unless applicable
securities laws require us to do so.
Contacts: Jean-Francois Pruneau Vice President Videotron 514
380-4144 For media only Elodie Girardin-Lajoie Specialist Corporate
Communications Videotron 514 380-7772
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