Quebecor Media postpones $750 million two-part note offering

By Paul A. Harris

St. Louis, July 11 - Quebecor Media Inc. postponed its $750 million two-part offering of senior notes (confirmed B2/existing B) on Wednesday, according to J.F. Pruneau, the company's treasurer.

When Prospect News asked if the company had alternative plans to meet its financing requirements, Pruneau said that Quebecor Media would "let the dust settle" and added that if conditions improve, the company could re-access the high-yield market.

The postponed offering had been comprised of 8.5-year notes and 10.5-year notes.

Citigroup, Banc of America Securities LLC and TD Securities were the joint bookrunners.

Proceeds were slated to be used for general corporate purposes including acquisitions, capital expenditures and debt repayment.

Quebecor is a Montreal-based media conglomerate.

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