Videotron Ltd. Announces Notice of Redemption for a Portion of its 9 1/8% Senior Notes Due April 15, 2018
March 26 2014 - 8:19PM
Marketwired
Videotron Ltd. Announces Notice of Redemption for a Portion of its
9 1/8% Senior Notes Due April 15, 2018
MONTREAL, QUEBEC--(Marketwired - Mar 26, 2014) - Videotron Ltd.
("Videotron") today announced that it has issued a notice of
redemption for US$260 million aggregate principal amount of its
outstanding 9 1/8% Senior Notes due April 15, 2018 (CUSIP 92658T
AM0) (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
April 24, 2014 (the "Redemption Date"), and the redemption price is
103.042% of the principal amount of the Notes redeemed, plus
accrued and unpaid interest to 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 sell or
buy or the solicitation of an offer to sell or buy any securities
in any jurisdiction or in any circumstances in which such offer or
solicitation is unlawful. 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 requirements of such securities
laws.
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 illico
interactive television service and its broadband network, which
supports high-speed cable Internet access, analog and digital cable
television, and other services. As of December 31, 2013, Videotron
was serving 1,825,100 cable television customers, including
1,531,400 subscribers to Digital TV. Videotron is also the Québec
leader in high-speed Internet access, with 1,418,300 subscribers to
its cable service as of December 31, 2013. As of the same date,
Videotron had 503,300 subscriber connections to its mobile
telephone service and was providing cable telephone service to
1,286,100 Québec households and organizations. For the ninth
consecutive year, Videotron was ranked as Québec's most respected
telecommunications company, based on a Léger 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, 2013 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.
Jean-Francois PruneauSenior Vice President and Chief Financial
OfficerQuebecor Media Inc.Telephone: 514 380-4144For media
onlyYouann BlouinSpecialist, Media and AnalystsSpecialist, Media
and AnalystsTelephone: 514 380-7069
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