Quebecor Media wraps tender for 7¾% notes; remainder to be redeemed

By Jennifer Chiou

New York, April 24 - Quebecor Media Inc. announced the close of its tender offer through which it received tenders for $89,095,000 principal amount, or 23.45%, of its $380 million of 7¾% senior notes due March 15, 2016.

All tenders were received by the 5 p.m. ET April 8 early deadline.

According to a news release, the company will redeem all remaining $290,905,000 of the notes at par plus accrued interest on April 25.

The tender offer began on March 26. It ended at 12:01 a.m. ET on April 24.

The purchase price was $1,002.50 per $1,000 principal amount of notes tendered by the early participation date. This price included a $30.00 early participation amount.

The company also paid accrued interest up to but excluding the settlement date, which was April 9.

As reported, there was no minimum tender condition. The offer was, however, conditioned on Videotron Ltd.'s completion of a financing transaction of no less than $500 million.

BofA Merrill Lynch (888 292-0070 or 980 388-3646) and Citigroup (800 558-3745 or 212 723-6106) were the dealer managers for the tender offer. Global Bondholder Services Corp. (866 470-4200 or 212 430-3774) was the information agent.

Quebecor is a Montreal-based media company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.