By Cristal Cody
Prospect News, June 16 - Videotron Ltd. (Ba1/BB/) priced an upsized C$300 million of 6 7/8% senior notes due July 15, 2021 at par on Thursday, an informed bond source said.
The notes priced at a spread of 395.2 basis points over the Government of Canada 3¼% 2021 bond. The deal was talked with a 6 7/8% coupon.
Videotron upsized the deal from C$250 million.
RBC Capital Markets Corp. and TD Securities Inc. were the lead managers. Co-managers included Scotia Capital Inc. and Bank of America Merrill Lynch.
Videotron is the cable, internet and mobile phone subsidiary of Quebecor Media Inc.
| Issuer: | Videotron Ltd.
|
| Amount: | C$300 million, increased from C$250 million
|
| Maturity: | July 15, 2021
|
| Securities: | Senior notes
|
| Bookrunners: | RBC Capital Markets Corp., TD Securities Inc.
|
| Co-managers: | Scotia Capital Inc., Bank of America Merrill Lynch
|
| Coupon: | 6 7/8%
|
| Price: | Par
|
| Yield: | 6 7/8%
|
| Spread: | 395.2 bps over the Government of Canada benchmark
|
| Pricing date: | June 16
|
| Settlement date: | July 5
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB
|
| Distribution: | Canada
|
| Price talk: | 6 7/8%
|
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