New Issue: Videotron upsizes to $600 million, prices 5 3/8% notes at par to yield 5.376%

By Paul A. Harris

Portland, Ore., March 26 - Videotron Ltd. and Videotron Ltee priced an upsized $600 million issue of 5 3/8% senior notes due June 15, 2024 (Ba2/BB/) at par to yield 5.376% on Wednesday, according to a syndicate source.

The yield printed at the tight end of the 5 3/8% to 5½% yield talk.

BofA Merrill Lynch was the left bookrunner for the quick-to-market issue that was upsized from $500 million. RBC Capital Markets, Scotia Capital and Citigroup Global Markets were the joint bookrunners.

The Canada-based communications company plans to use the proceeds to refinance debt.

Issuer:	Videotron Ltd. and Videotron Ltee
Amount:	$600 million, increased from $500 million
Maturity:	June 15, 2024
Securities:	Senior notes
Left bookrunner:	BofA Merrill Lynch
Joint bookrunners:	RBC Capital Markets, Scotia Capital, Citigroup Global Markets
Co-managers:	TD Securities, NBCF, BMO Securities, Desjardins, CIBC World Markets, HSBC Securities, Goldman Sachs & Co., Mitsubishi UFJ Securities, Laurentian, Mizuho Securities
Coupon:	5 3/8%
Price:	Par
Yield:	5.376%
Call protection:	Non-callable until March 15, 2024, then at par
Trade date:	March 26
Settlement date:	April 9
Ratings:	Moody's: Ba2
	Standard & Poor's: BB
Distribution:	Rule 144A and Regulation S
Price talk:	5 3/8% to 5½%
Marketing:	Quick to market

© 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.