Quebecois quad-play operator Videotron has priced C$400m (US$388m) in 12-year notes which carry a coupon of 5.625%.
The operator plans to put the proceeds towards redeeming its US$380m outstanding 9.125% notes due 2018.
Videotron said it could upsize…
Quebecois quad-play operator Videotron has priced C$400m (US$388m) in 12-year notes which carry a coupon of 5.625%.
The operator plans to put the proceeds towards redeeming its US$380m outstanding 9.125% notes due 2018.
Videotron said it could upsize the notes with favourable pricing due to “strong demand”, and that the offering was the first ever 12-year Canadian-dollar high-yield corporate bond issued in the Canadian market.
National Bank Financial, TD Securities, BofA Merrill Lynch and HSBC were bookrunners on the offering.
Montreal-based Videotron, owned by conglomerate Quebecor, offers mobile and fixed-line telephony, television services and high-speed internet. Last week it entered into a network sharing agreement with incumbent Rogers Communications and as part of that arrangement it agreed to sell unused AWS spectrum in Toronto to Rogers for C$180m (US$175m) in 2014.
