Budgeting, Planning & Forecasting

Budgeting, Planning & Forecasting

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June 21, 2011

Videotron Ltd Announces Notice of Partial Redemption



Videotron (News - Alert) is electing to redeem a portion of its 6 7/8% of Senior Notes worth US$255,000,000. The notes were due on January 15, 2014. The redemption will be subject to the terms of the Indenture. A notice in this regard has been given by Videotron Ltd., each subsidiary guarantor party thereto, and Wells Fargo (News - Alert) Bank, National Association. Videotron is a corporation under the laws of the Province of Quebec. The notice will be pursuant to Sections 3.01, 3.03 and 3.07 of the Indenture, dated as of October 8, 2003. Wells Fargo Bank, National Association is the trustee and paying agent.

According to the notice, the Notes will be redeemed at the price of 101.146% of the principal amount redeemed. The price will also include accrued and unpaid interest on the Notes redeemed till the Redemption Date. Terms for Redemption Price have been set. A total of US$650,000,000 principal amount of the Notes is outstanding as of the date of the notice.

The Redemption Date has been set at July 18, 2011. The Redemption Price is US$1,011.46 in principal amount and premium per $1,000.00 principal amount redeemed, plus approximately $0.57 in accrued and unpaid interest to but not including the Redemption Date. After presenting and surrendering the Notes for redemption, the Redemption Price will be paid to the Holders of the Notes. The Notes for redemption need to be presented at the Trustee's address either via registered and certified mail; regular mail or courier; or in person by hand. The Notes called for redemption should be surrendered as soon as possible to the Paying Agent to facilitate prompt payment.

The Redemption Price will become due and payable upon each Note to be redeemed on the Redemption Date. There will be no interest on the Notes or portions of Notes called for redemption on and after the Redemption Date. The only exception will be if Videotron defaults in payments. The Notes or portion of Notes selected for redemption need to be in amounts of US$1,000 or integral multiples of US$1,000. If all Notes of a Holder are selected for redemption, the entire outstanding amount need not be an integral multiple of US$1,000.


Carolyn John is a Contributor to TMCnet. To read more of her articles, please columnist page.

Edited by Rich Steeves
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