By Paul A. Harris
St. Louis, Jan. 7 - Videotron Ltd. priced an upsized C$300 million issue of 10-year senior notes (Ba2/BB-/) at par to yield 7 1/8% on Thursday, according to a market source.
The yield printed at the tight end of the 7¼% area price talk.
RBC Capital Markets, Scotia Capital and TD Securities were joint bookrunners for the issue, which was upsized from C$200 million.
Proceeds will be used to repay bank debt and for general corporate purposes.
Videotron is a Quebec-based communications company.
Issuer: | Videotron Ltd.
|
Amount: | C$300 million, increased from C$200 million
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Maturity: | Jan. 15, 2020
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Securities: | Senior notes
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Bookrunners: | RBC Capital Markets, Scotia Capital, TD Securities
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Coupon: | 7 1/8%
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Price: | Par
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Yield: | 7 1/8%
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Spread: | 349 bps
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Call protection: | Five years
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Trade date: | Jan. 7
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Settlement date: | Jan. 13
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Ratings: | Moody's: Ba2
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| Standard & Poor's: BB-
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Distribution: | Rule 144A
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Price talk: | 7¼% area
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