By Rebecca Melvin
New York, June 12 - Quebecor Inc. and Caisse de dépôt et placement du Québec priced an upsized C$305 million of Quebecor's 4.125% convertible unsecured subordinated debentures due 2018 in a secondary offering at 104 of par, according to a news release.
The secondary offering was originally talked at C$200 million.
All of the debentures are being sold by CDP Capital d'Amérique Investissements Inc., a subsidiary of Caisse de dépôt et placement du Québec. Quebecor will not receive any proceeds from the secondary sale, which is part of the transaction announced on Oct. 3, 2012 allowing the Caisse to rebalance its portfolio by disposing of part of this position in the media and telecommunications industry.
The secondary offering represents 61% of the C$500 million of the debentures originally priced by Quebecor.
Quebecor is a Montreal-based holding company of media and telecommunications businesses.
| Issuer: | Quebecor Inc.
|
| Issue: | Secondary offering of convertible unsecured subordinated debentures
|
| Amount: | C$305 million, or 61% of C$500 million issue
|
| Maturity: | 2018
|
| Coupon: | 4.125%
|
| Price: | 104
|
| Seller: | CDP Capital d'Amérique Investissements Inc.
|
| Sale date: | June 12
|
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