MONTRÉAL, Jan. 19, 2021 /CNW
Telbec/ - Videotron Ltd. ("Videotron") today announced the
pricing of its new issuance of C$650
million aggregate principal amount of 3.125% Senior
Notes due 2031. The new senior notes will be sold at par, will
carry a coupon of 3.125% and will mature on January 15, 2031. Videotron intends to use the
proceeds of this offering for general corporate purposes,
including, without limitation, for the repayment of a portion of
its outstanding indebtedness.
"We are very pleased with the Canadian market's response to this
high yield note issuance, which has the lowest coupon rate this
market has ever seen. This issuance, in addition to our liquidities
of more than C$1.8 billion, positions
us favourably for the upcoming spectrum auctions and the maturities
of our notes. Once again, Videotron is strengthening its position
as a top-tier issuer and continues to play a leading role," said
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, entertainment, Internet access,
wireline telephone and mobile telephone services. Videotron is a
leader in new technologies with its Helix home entertainment and
management platform. As of September 30,
2020, Videotron was serving 1,481,800 cable television
customers and 452,900 subscribers to its Club illico video
streaming service. Videotron is also the Québec leader in
high-speed Internet access, with 1,773,600 subscribers to its cable
service as of September 30, 2020. As
of the same date, Videotron had 1,452,600 subscriber connections to
its mobile telephone service and was providing wireline telephone
service to 950,900 Québec households and organizations. Videotron
has been recognized as one of 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 that support our
mobile services; general economic, financial or market conditions
and variations in the businesses; the intensity of competitive
activity in the industries in which we operate; new technologies
that might change consumer behaviour towards our product suites;
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, mobile
and cable telephony and Club illico services, and our ability to
protect such services from piracy, unauthorized access or other
security breaches; labour disputes or strikes; service
interruptions resulting from equipment breakdown, network failure,
the threat of natural disaster, epidemics, pandemics and other
public health crises, including the COVID-19 pandemic, and
political instability in some countries; the impact of emergency
measures implemented by various governments; 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, 2019 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