Videotron tenders for 6 7/8% senior notes due 2014; to call remainder

By Susanna Moon

Chicago, Feb. 29 - Videotron Ltd. said it began a cash tender offer to purchase its $395 million of outstanding 6 7/8% senior notes due Jan. 15, 2014.

The company will pay par for the notes plus an early participation fee of $1.25 for each $1,000 principal amount of notes tendered by the early deadline at 5 p.m. ET on March 13.

Holders also will receive accrued interest.

The tender offer will end at 12:01 a.m. ET on March 28.

The offer is not conditioned on any minimum amount of notes being tendered but is subject to a financing transaction with proceeds of at least $500 million, according to a company press release.

Videotron said it expects to settle early tendered notes within two business days of the early participation date and to settle the remaining tendered notes within two business days after the offer expires.

Bank of America Merrill Lynch (888 292-0070 or collect 646 855-3401) is dealer manager, and Global Bondholder Services Corp. (866 470-4300 or collect 212 430-3774) is the tender and information agent.

Videotron also will redeem any remaining notes at par plus accrued interest on March 30, according to a separate press release.

Wells Fargo Bank, NA is trustee and paying agent.

Videotron is the cable, internet and mobile phone subsidiary of Quebecor Media Inc.

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