Quebecor Media gets no more tenders for 7¾% notes in concluded offer

By Marisa Wong

Madison, Wis., March 29 - Quebecor Media Inc. said that as of 12:01 a.m. ET on March 28, the expiration date of its previously announced tender offer, no additional notes had been tendered since its previous announcement.

Specifically, a total of $446,473,000 of the company's 7¾% senior notes due March 15, 2016 has not been tendered and remains outstanding.

The company previously announced that holders tendered and it accepted $78,527,000, or about 14.96%, of the 7¾% notes by the early participation deadline of 5 p.m. ET on March 14.

Quebecor was tendering for up to $260 million of the notes.

The company paid $1,028.33 for each $1,000.00 principal amount of notes. That amount includes an early tender premium. Holders also received accrued interest to but excluding the payment date, which was March 16.

The company also issued separate notices that it will redeem $100 million of the notes on April 13 at 102.583 plus accrued interest and $81,473,000 of the notes on April 27 at 102.583 plus accrued interest.

Bank of America Merrill Lynch (888 292-0070 or 646 855-3401) and Citigroup (800 558-3745 or 212 723-6106) are the dealer managers. Global Bondholder Services Corp. is the tender and information agent (866 937-2200 or 212 430-3774).

Montreal-based Quebecor Media is a subsidiary of Quebecor Inc., one of Canada's largest communications and media companies.

© 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.