|By Marketwired .||
|March 26, 2014 08:20 PM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 03/27/14 -- Videotron Ltd. ("Videotron") today announced that it has issued a notice of redemption for US$260 million aggregate principal amount of its outstanding 9 1/8% Senior Notes due April 15, 2018 (CUSIP 92658T AM0) (the "Notes"). A notice of redemption (the "Redemption Notice") pursuant to the terms of the indenture governing the Notes (the "Indenture") is being distributed by Wells Fargo Bank, National Association, the trustee under the Indenture. The Redemption Notice issued today states that the redemption date is April 24, 2014 (the "Redemption Date"), and the redemption price is 103.042% of the principal amount of the Notes redeemed, plus accrued and unpaid interest to the Redemption Date.
Questions regarding this redemption should be directed to Wells Fargo Bank, National Association, by telephone at 1-800-344-5128 or by facsimile at (612) 667-6282.
This announcement does not constitute an offer to sell or buy or the solicitation of an offer to sell or buy any securities in any jurisdiction or in any circumstances in which such offer or solicitation is unlawful. The securities mentioned herein have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the securities in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws.
Videotron (www.videotron.com), a wholly owned subsidiary of Quebecor Media Inc., is an integrated communications company engaged in cable television, interactive multimedia development, and Internet access, cable telephone and mobile telephone services. Videotron is a leader in new technologies with its illico interactive television service and its broadband network, which supports high-speed cable Internet access, analog and digital cable television, and other services. As of December 31, 2013, Videotron was serving 1,825,100 cable television customers, including 1,531,400 subscribers to Digital TV. Videotron is also the Quebec leader in high-speed Internet access, with 1,418,300 subscribers to its cable service as of December 31, 2013. As of the same date, Videotron had 503,300 subscriber connections to its mobile telephone service and was providing cable telephone service to 1,286,100 Quebec households and organizations. For the ninth consecutive year, Videotron was ranked as Quebec's most respected telecommunications company, based on a Leger survey.
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of United States federal securities legislation (collectively, "forward-looking statements"). All statements other than statements of historical facts included in this press release, including statements regarding our industry and our prospects, plans, financial position and business strategy, may constitute forward-looking statements. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industries in which we operate as well as beliefs and assumptions made by our management. Such statements include, in particular, statements about our plans, prospects, financial position and business strategies. Words such as "may," "will," "expect," "continue," "intend," "estimate," "anticipate," "plan," "foresee," "believe" or "seek" or the negatives of these terms or variations of them or similar terminology are intended to identify such forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these statements, by their nature, involve risks and uncertainties and are not guarantees of future performance. Such statements are also subject to assumptions concerning, among other things: our anticipated business strategies; anticipated trends in our business; and our ability to continue to control costs. We can give no assurance that these estimates and expectations will prove to have been correct. Actual outcomes and results may, and often do, differ from what is expressed, implied or projected in such forward-looking statements, and such differences may be material.
Some important factors that could cause actual results to differ materially from those expressed in these forward-looking statements include, but are not limited to: general economic, financial or market conditions; the intensity of competitive activity in the industries in which we operate, including competition from alternative means of programs and content transmission; new technologies that would change consumer behaviour toward our product suite; unanticipated higher capital spending required or to address continued development of competitive alternative technologies or the inability to obtain additional capital to continue the development of our business; our ability to implement successfully our business and operating strategies and manage our growth and expansion; disruptions to the network through which we provide our digital television, Internet access and telephony services, and our ability to protect such services from piracy; labour disputes or strikes; changes in our ability to obtain services and equipment critical to our operations; changes in laws and regulations, or in their interpretations, which could result, among other things, in the loss (or reduction in value) of our licenses or markets or in an increase in competition, compliance costs or capital expenditures; our substantial indebtedness, the tightening of credit markets, and the restrictions on our business imposed by the terms of our debt; and interest rate fluctuations that affect a portion of our interest payment requirements on long-term debt. We caution you that the above list of cautionary statements is not exhaustive. These and other factors could cause actual results to differ materially from our expectations expressed in the forward-looking statements included in this press release, and you are encouraged to read "Item 3. Key Information - Risk Factors" as well as statements located elsewhere in Videotron's annual report on Form 20-F for the year ended December 31, 2013 for further details and descriptions of these and other factors. Each of these forward-looking statements speaks only as of the date of this press release. We will not update these statements unless applicable securities laws require us to do so.
Senior Vice President and Chief Financial Officer
Quebecor Media Inc.
Telephone: 514 380-4144
For media only
Specialist, Media and Analysts
Specialist, Media and Analysts
Telephone: 514 380-7069
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