Quebecor Media Inc. Announces Closing of a US$350 Million Term Loan B Credit
MONTREAL, QUEBEC -- (Marketwired) -- 08/01/13 -- 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.
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 cultur
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).
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.
Senior Vice President and Chief Financial Officer
Quebecor Media Inc.
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