New Issue: Videotron $175 million 10-year notes price to yield 6.444%

By Paul A. Harris

St. Louis, Sept. 9 - Videotron Ltee. priced a $175 million issue of 6 3/8% 10-year senior notes (Ba3/B+) at 99.50 on Friday to yield 6.444%, according to a market source.

The notes priced near the midpoint of the 6 3/8% to 6½% price talk.

Banc of America Securities LLC and Citigroup were joint bookrunners for the Rule 144A with registration rights offering.

Proceeds will be used to repay outstanding bank debt and pay a dividend to parent QMI.

Videotron is a Montreal-based cable operator.

Issuer:	Videotron Ltee.
Amount:	$175 million
Maturity:	Dec. 15, 2015
Security description:	Senior notes
Bookrunners:	Banc of America Securities LLC, Citigroup
Coupon:	6 3/8%
Price:	99.50
Yield:	6.444%
Spread:	234 basis points
Call features:	Callable after Dec. 15, 2010 at 103.188, 102.125, 101.063, par on and after Dec. 15, 2013
Equity clawback:	Until Dec. 15, 2008 for 35% at 106.375
Trade date:	Sept. 9
Settlement date:	Sept. 16
Ratings:	Moody's: Ba3
	Standard & Poor's: B+
Price talk:	6 3/8%-6½%

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