MONTRÉAL, Sept. 24, 2019 /CNW
Telbec/ - Videotron Ltd. ("Videotron") today announced the
pricing of its new issuance of C$800
million aggregate principal amount of 4.5% Senior Notes
due 2030. The new senior notes will be sold at par, will carry
a coupon of 4.5% and will mature on January 15, 2030.
Videotron intends to use the proceeds of this offering to repay a
portion of the amounts outstanding under its senior credit facility
and to pay transaction fees and expenses.
"We are very pleased with the outcome of this financing
transaction on the Canadian high yield market which represents both
the largest offering and lowest 10-year coupon ever reached on this
market. Once again, Videotron solidifies its position as a best of
breed debt issuer and continues to act as a trailblazer as was the
case with its initial offering in Canada in January
2010," commented Hugues
Simard, Chief Financial Officer of Quebecor Inc. and
Quebecor Media Inc.
This press release is not an offer to sell or the
solicitation of an offer to buy securities in the United States or in any other
jurisdiction. The securities mentioned herein have not been and
will not be registered under the United States Securities Act of
1933 or applicable state securities laws, and the senior notes may
not be offered or sold in the United
States absent registration or an applicable exemption from
registration. The senior notes 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 notes
in Canada will be made on a basis
which is exempt from the prospectus and dealer registration
requirements of such securities laws.
Videotron (www.videotron.com), a wholly owned subsidiary
of Quebecor Media Inc., is an integrated communications company
engaged in cable television, interactive multimedia development,
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, digital cable
television, and other services. As of June
30, 2019, Videotron was serving 1,558,400 cable television
customers, while Club illico, the over-the-top video service, had
431,000 members. Videotron is also the Québec leader in high-speed
Internet access, with 1,706,900 subscribers to its cable service as
of June 30, 2019. As of the same
date, Videotron had 1,231,900 subscriber connections to its mobile
telephone service and was providing cable telephone service to
1,072,900 Québec households and organizations. Videotron was
recognized amongst Canada's top
100 employers as well as Montréal's top employers.
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; our anticipated trends
in our business; our anticipated reorganizations of any of our
businesses; any related restructuring provisions or impairment
charges; 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: our ability to successfully
continue developing our network and facilities-based mobile
services; general economic, financial or market conditions; the
intensity of competitive activity in the industries in which we
operate; new technologies that might change consumer behaviour
towards our product suite; unanticipated higher capital spending
required to deploy our network or to address the 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, telephony and Club illico
services, and our ability to protect such services from piracy,
unauthorized access or other security breaches; 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,
2018 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.
SOURCE Videotron