Videotron Ltd. Prices US$260 Million Senior Notes Offering
27 2월 2009 - 5:51AM
Marketwired
Videotron Ltd. (TSX: QBR.A)(TSX: QBR.B) today announced the pricing
of its offering of US$260 million aggregate principal amount of its
senior notes. The new senior notes will be sold at a price of
98.625% of par, will carry a coupon of 9 1/8% and will mature on
April 15, 2018.
Videotron intends to use the proceeds of this offering to repay
all drawings under its senior secured credit facility and the
remainder for general corporate purposes. In the context of the
current instability of the financial markets, Videotron has seized
the opportunity to optimize its liquidity position through this
offering.
This press release is not an offer of securities for sale in the
United States. The senior notes have not been registered under the
United States Securities Act 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 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 Ltd. (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 services, cable telephony and wireless telephone
service. Videotron is a leader in new technologies with its illico
interactive television system and its broadband network, which
supports high-speed cable Internet access, analog and digital cable
television, and other services. As of December 31, 2008, Videotron
was serving 1,715,616 cable television customers, including 927,322
illico Digital TV subscribers. Videotron is the Quebec leader in
Internet access, with 1,063,847 subscribers to its cable modem
service as of December 31, 2008. As of the same date, Videotron had
activated 63,402 lines on its wireless telephone service and was
providing cable telephone service to 851,987 Quebec households and
organizations.
Forward-Looking Statements
Statements contained herein relating to matters that are not
historical facts are forward-looking statements. These
forward-looking statements are made pursuant to the "Safe Harbor"
provisions of the United States Private Securities Litigation
Reform Act of 1995. 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
are discussed in Videotron's quarterly reports furnished to the SEC
under cover of Form 6-K, including under the section
"Forward-looking statements" and are discussed in further detail in
Videotron's most recent Annual Report on Form 20-F for the fiscal
year ended December 31, 2007, including under the sections
"Cautionary Statement Regarding Forward-Looking Statements" and
"Risk Factors." Videotron disclaims any obligation to update these
statements unless applicable securities laws require us to do
so.
Contacts: Media contact only: Videotron Ltd. Eve Lacasse
Specialist Corporate Communications 514-380-7772 Mobile:
514-516-7772
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