Quebecor Media talks C$250 million notes due 2021 at 7¼%-7 3/8% yield

By Cristal Cody

Prospect News, Dec. 14 - Quebecor Media Inc. is expected to price C$250 million of senior notes due Jan. 15, 2021 on Wednesday, an informed source said.

Price talk on the notes (DBRS: BB(low)/B1) on Tuesday was for a 7¼% to 7 3/8% yield.

The roadshow was held Monday in Toronto and Tuesday in Montreal. The notes will be sold under Rule 144A.

Scotia Capital Inc., TD Securities Inc. and National Bank Financial Inc. are the lead managers. Co-managers include Bank of America Merrill Lynch, RBC Capital Markets Corp., Citigroup Global Markets Inc., BMO Capital Markets Corp., Desjardins Securities Inc., HSBC Capital (Canada) Inc. and CIBC World Markets Inc.

The notes will have a change-of-control put at 101%.

Proceeds will be used by subsidiary Sun Media Corp. to redeem and retire all outstanding Sun Media notes in February and to finance the settlement and termination of related hedging contracts.

Montreal-based Quebecor Media is a subsidiary of Quebecor Inc., one of Canada's largest communications and media companies.

© 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.