Log In | Become a Member | Contact Us


Leading printing executives into the future

Connect on Twitter | Facebook | LinkedIn

Featured:     Economics Update Webinar     SGIA Expo     Graph Expo     European Coverage     Production Inkjet Analysis

Quebecor World Signs Syndicate Agreement to Raise Another $150 Million

Friday, July 27, 2001

Press release from the issuing company

Quebecor World Inc. has today entered into an agreement with a syndicate of underwriters led by Scotia Capital Inc., BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. under which the underwriters have agreed to buy 6,000,000 6.90% Cumulative Redeemable First Preferred Shares, Series 5 at a price of $25.00 per share, for aggregate proceeds of $150,000,000. Quebecor World Inc. has also granted the underwriters an option to purchase an additional 1,000,000 preferred shares, exercisable in whole or in part by the underwriters at any time until 24 hours prior to closing date. The maximum gross proceeds raised under the offering will be $175,000,000 should the underwriters' option be exercised in full. The expected closing date of the issue is August 16, 2001. The net proceeds from the offering will be used to invest in capital expenditures in the United States and to fund general corporate purposes. According to Christian Paupe, Executive Vice President of Quebecor World: "This financing represents an opportunity to further reinforce our capital for our future growth.'' Quebecor World Inc. is the largest commercial print media services company in the world. The Company is a leader in most of its major product categories, which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media, logistics, mail list technologies and other value added services. The Company has approximately 40,000 employees working in more than 160 printing and related facilities in the United States, Canada, France, the United Kingdom, Spain, Switzerland, Austria, Sweden, Finland, Brazil, Chile, Argentina, Peru, Colombia, Mexico and India. All amounts referred to herein are in Canadian dollars.

 

 

SHARE

Email Icon Email

Print Icon Print

Become a Member

Join the thousands of printing executives who are already part of the WhatTheyThink Community.

Copyright © 2016 WhatTheyThink. All Rights Reserved