Videotron Ltd. Announces Notice of Redemption for a Portion of its 9 1/8%
Senior Notes Due April 15, 2018
MONTREAL, QUEBEC -- (Marketwired) -- 03/26/14 -- 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.
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 Quebec leader in high-speed Internet access,
with 1,418,300 subscribers to its cable service a
s 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 Quebec households and organizations.
For the ninth consecutive year, Videotron was ranked as Quebec's most
respected telecommunications company, based on a Leger survey.
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.
Senior Vice President and Chief Financial Officer
Quebecor Media Inc.
Telephone: 514 380-4144
For media only
Specialist, Media and Analysts
Specialist, Media and Analysts
Telephone: 514 380-7069
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