Quebecor Media Inc. Announces Closing of a US$350 Million Term Loan B Credit Facility
August 01 2013 - 4:34PM
Marketwired
Quebecor Media inc. ("Quebecor Media") announced today the closing
of a 7-year US$350 million Term Loan B credit facility. The Term
Loan B credit facility has the same security package as the
outstanding revolving facility and the net proceeds will be used
for general corporate purposes.
Considering the opportunistic financing transactions that were
completed by Quebecor Media and Videotron Ltd since the beginning
of the year, including this new financing and the partial
redemption of 7 3/4% Senior Notes due March 15, 2016 announced on
July 31, 2013, the annual interest savings are expected to exceed
$20M.
Citigroup Global Markets Inc., RBC Capital Markets and The Bank
of Nova Scotia, acted as Joint Lead Arrangers and Joint
Bookmanagers for the syndication of the Term Loan B facility.
About Quebecor
Quebecor Inc. (TSX:QBR.A)(TSX:QBR.B) is a holding company with a
75.4% interest in Quebecor Media Inc., one of Canada's largest
media groups, with more than 16,000 employees. Quebecor Media Inc.,
through its subsidiary Videotron Ltd., is an integrated
communications company engaged in cable television, interactive
multimedia development, Internet access services, cable telephony
and mobile telephony. Through Sun Media Corporation, Quebecor Media
Inc. is the largest publisher of newspapers in Canada. It also
operates Canoe.ca and its network of English- and French-language
Internet properties in Canada. In the broadcasting segment,
Quebecor Media Inc. operates, through TVA Group Inc., the number
one French language conventional television network in Quebec, a
number of specialty channels and, through Sun Media Corporation,
the English-language SUN News channel. Another subsidiary of
Quebecor Media Inc., Nurun Inc., is a major interactive
technologies and communications agency with offices in Canada, the
United States, Europe and Asia. Quebecor Media Inc. is also active
in magazine publishing (Publications TVA Inc.), book publishing and
distribution (Sogides Group Inc., CEC Publishing Inc.), the
production, distribution and retailing of cultural products
(Archambault Group Inc., TVA Films), sporting and cultural event
management (Event Management Gestev Inc.), video game development
(BlooBuzz Inc.), DVD, Blu-ray disc and videogame rental and
retailing (Le SuperClub Videotron ltee), the printing and
distribution of community newspapers and flyers (Quebecor Media
Printing Inc., Quebecor Media Network Inc.), outdoor advertising
(Quebecor Media Out of Home), news content production and
distribution (QMI Agency), and multiplatform advertising solutions
(Quebecor Media Sales).
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. For additional information
regarding some important factors that could cause actual results to
differ materially from those expressed in these forward-looking
statements and other risks and uncertainties, and the assumptions
underlying the forward-looking statements, you are encouraged to
read "Item 3. Key Information - Risk Factors" as well as statements
located elsewhere in Quebecor Media's annual report on Form 20-F
for the year ended December 31, 2012. 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 Senior Vice President and Chief
Financial Officer Quebecor Media Inc. 514.380.4144
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