Videotron Ltd. Announces the Extension of the Exchange Offer for Its 5% Senior Notes Due July 15, 2022
July 05 2012 - 8:30AM
Marketwired
Videotron Ltd. ("Videotron") today announced that it has extended
the expiration date of its offer to exchange (the "Exchange Offer")
all outstanding 5% Senior Notes due July 15, 2022 (the "Initial
Notes") for an equal principal amount of notes (the "Exchange
Notes") which have been registered under the Securities Act of
1933, as amended, to 5:00 p.m., New York city time, on July 16,
2012. The Exchange Offer was originally scheduled to expire at 5:00
p.m., New York City time, on July 3, 2012 (the "Original Expiration
Date").
Videotron was advised by the Exchange Agent for the Exchange
Offer that, as of 5:00 p.m., New York city time, on July 3, 2012,
the Company had received valid tenders or notices of guaranteed
delivery pursuant to the Exchange Offer representing US$799,400,000
principal amount of the Initial Notes (constituting approximately
99.9 percent of the of the aggregate principal amount of the
Initial Notes).
Except as set forth herein, the terms and conditions of the
Exchange Offer remain unchanged. The complete terms and provisions
of the Exchange Offer are contained in Videotron's exchange offer
prospectus dated June 4, 2012 and accompanying materials. Questions
and requests for assistance, and requests for additional copies of
the exchange offer prospectus and related transmittal materials
governing the Exchange Offer, should be directed to Wells Fargo
Bank, National Association, the Exchange Agent for the Exchange
Offer, at 1-800-344-5128.
This press release is not an offer to purchase, a solicitation
of an offer to purchase, or a solicitation of an offer to sell any
Exchange Note. The Exchange Offer may only be made pursuant to the
terms of the prospectus and the accompanying materials (as both may
be amended).
About Videotron
Videotron (www.videotron.com), 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 March 31, 2012, Videotron was
serving 1,854,000 cable television customers, including 1,417,500
subscribers to its digital service. Videotron is also the Quebec
leader in high-speed Internet access, with 1,340,500 subscribers to
its cable service as of March 31, 2012. As of the same date,
Videotron had 312,800 subscriber connections to its mobile
telephone service and was providing cable telephone service to
1,212,500 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, 2011 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: Videotron Jean-Francois Pruneau Vice President 514
380-4144 For media only: Videotron Elodie Girardin-Lajoie
Specialist, Corporate Communications 514 380-7772
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