New Issue: Quebecor $400 million eight-year notes yield 9¾%

By Paul A. Harris

St. Louis, Dec. 13 - Quebecor World Inc. priced a $400 million issue of eight-year senior notes (B2/B) at par to yield 9¾% on Wednesday, according to an informed source.

The yield came on top of price talk.

Citigroup, Banc of America Securities LLC, RBC Capital Markets and Scotia Capital were joint bookrunners for the notes, which were issued via Rule 144A with no registration rights and via Regulation S.

Proceeds will be used to reduce debt and for general corporate purposes.

Quebecor is a Montreal-based printing business.

Issuer:	Quebecor World Inc.
Amount:	$400 million
Maturity:	Jan. 15, 2015
Security description:	Senior notes
Bookrunners:	Citigroup, Banc of America Securities LLC, RBC Capital Markets, Scotia Capital
Co-managers:	ABN Amro, BNP Paribas, CIBC World Markets, BMO, NBS, Societe Generale Corporate & Investment Banking, TD Securities, Wachovia Securities, JP Morgan
Coupon:	9¾%
Price:	Par
Yield:	9¾%
Spread:	518 bps
Call features:	Make-whole call at Treasuries plus 50 basis points until Jan. 15, 2011, then callable at 104.875, 102.438, par on and after Jan. 15, 2013
Equity clawback:	Until Jan. 15, 2010 for 35% at 109.75
Trade date:	Dec. 13
Settlement date:	Dec. 18
Ratings:	Moody's: B2
	Standard & Poor's: B
Distribution:	Rule 144A/Regulation S
Price talk:	9¾%

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