Log In | Become a Member | Contact Us


Leading printing executives into the future

Connect on Twitter | Facebook | LinkedIn

Featured:     European Coverage     Production Inkjet Analysis

Quebecor World USA Offers to Purchase Up to $125 Million of Outstanding Senior Notes of Quebecor World Capital Corp

Friday, December 01, 2006

Press release from the issuing company

Nov 30, 2006 -- Quebecor World (USA) Inc., a wholly-owned subsidiary of Quebecor World Inc., today announced that it has commenced cash tender offers to purchase (i) any and all of Quebecor World Capital Corporation's (Quebecor World Capital) outstanding US$91 million in aggregate principal amount of 8.54% Senior Notes, Series C, due September 15, 2015 (the Series C Notes) and Quebecor World Capital's US$30 million in aggregate principal amount of 8.69% Senior Notes, Series D, due September 15, 2020 (the Series D Notes) and (ii) an aggregate principal amount of Quebecor World Capital's outstanding 8.42% Senior Notes, Series A, due July 15, 2010 (the Series A Notes) and 8.52% Senior Notes, Series B, due July 15, 2012 (the Series B Notes) equal to the balance of US$125,000,000 less the total aggregate principal amount of Series C Notes and Series D Notes accepted for purchase. The Series C Notes, the Series D Notes, the Series A Notes and the Series B Notes are referred to collectively as the "Notes." Quebecor World (USA) will accept for purchase Series A Notes and Series B Notes under the tender offer on a pro rata basis after having first accepted for payment all Series C Notes and Series D Notes validly tendered pursuant to the tender offer. The tender offers are being made upon and are subject to the terms and conditions set forth in the Offer to Purchase dated November 30, 2006 (the Offer to Purchase) and the related Letter of Transmittal. The total consideration to be paid for each validly tendered and accepted Series C Note and Series D Note will be a fixed price of US$1,000 per US$1,000 principal amount. The total consideration to be paid for each validly tendered and accepted Series A Note and Series B Note will be a fixed price of US$1,000 per US$1,000 principal amount. In addition, holders of the Notes will receive accrued and unpaid interest up to, but not including, the settlement date, in respect of Notes accepted for purchase. The total consideration, which will be paid for Notes validly tendered prior to or at 5:00 p.m., New York City time, on December 13, 2006, includes an early tender premium in the amount of US$20 per US$1,000 principal amount of Notes. Notes validly tendered after 5:00 p.m., New York City time, on December 13, 2006, and prior to 11:59 p.m., New York City time, on December 28, 2006, will not be eligible to receive the early tender premium. Tendered Notes may be withdrawn until 5:00 p.m., New York City time, on December 13, 2006, but not thereafter, except in the limited circumstances set forth in the Offer to Purchase. The tender offers will expire at 11:59 p.m., New York City time, on December 28, 2006, unless extended or earlier terminated as described in the Offer to Purchase. The settlement date is expected to be the business day immediately following the expiration date of the offers, which, assuming that the offers are not extended, will be December 29, 2006 or as soon as possible thereafter. The tender offer documents are being distributed to holders beginning today. The Dealer Manager for the offers is Citigroup Global Markets Inc. Questions regarding the tender offers may be directed to Citigroup Global Markets at (800) 558-3745 (toll free) or at (212) 723-6106 (collect). Global Bondholder Services Corporation is the Information Agent and the Depositary for the tender offers. Requests for documents and questions regarding procedures for tendering Notes should be directed to Global Bondholder Services Corporation at (866) 470-4300 (toll free) or at (212) 430-3774 (collect). This communication is for informational purposes only. It is not intended as, and does not constitute, an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Any comments or statements made herein do not necessarily reflect those of Citigroup Global Markets Inc., Global Bondholder Services Corporation, or their respective subsidiaries and affiliates.

 

 

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