Quebecor World Receives Conversion Notices in Respect of 744,124 Series 5 Preferred Shares Jun 28, 2008
Source: Quebecor World Inc. ... MONTREAL, CANADA--(Marketwire - June 27, 2008) - Quebecor World Inc. (TSX: - ) today announced that, on or prior to June 27, 2008, it received notices in respect of 744,124 of its remaining 2,507,153 issued and outstanding Series 5 Cumulative Redeemable First Preferred Shares (TSX: - ; the "Series 5 Preferred Shares") requesting conversion into the Company's Subordinate Voting Shares (TSX: - ) ... All statements other than statements of historical facts included... (CCNMatthews Press Releases)
Expansions lift DCT Industrial properties Jun 23, 2008
In May, Logistics, the logistics arm of Quebecor World, signed a new 150,000-square-foot lease at also leases space at the 888,262-square-foot building at 5300 Hickory Hill. Mike Driscoll, industrial specialist with Colliers Wilkinson Snowden, represented Quebecor, while LLC senior vice president Mark Jenkins and senior leasing associate Phil Dagastino represented DCT.. (Memphis Business Journal, TN)
Pending Quebecor sale ruffles creditors' feathers Jun 23, 2008
MONTREAL Unsecured creditors are criticizing Quebecor World Inc.'s $206 ... The transaction - which won final court approval recently - is a major step in insolvent Quebecor World's efforts to remake itself as a more focused, financially viable player in the North American printing industry ... In a recent filing in U.S. Bankruptcy Court, Southern District of New York, the unsecured creditors allege that Quebecor World's management recommended that the board accept an offer to purchase the... (Globe and Mail -- Business)
Kirkland Ousts Weil Gotshal as Bankruptcy Leader After Bienenstock Bolts Jun 3, 2008
Quebecor World Inc., the Montreal- based printer of Time and Cosmopolitan magazines, owes more than $2. 77 billion, according to court filings, and is being represented by Washington-based. (Bloomberg)
Quebecor World Agrees to Sell European Operations to Dutch Group HHBV May 30, 2008
Quebecor World Agrees to Sell European Unit to HHBV (Update2) ... 5 million euros in debt, Quebecor World said today in a statement, giving the deal a total value of 133 million euros ... Quebecor World, based in Montreal, sought protection from creditors in January. (Bloomberg -- Canada)
Quebecor finds buyer for European assets May 30, 2008
MONTREAL Six months after a deal to sell its European operations fell through, Quebecor World Inc. has found another buyer for the assets, but at a much lower price than initially sought ... Quebecor World said it expects net cash proceeds of $72 ... The sale's failure was a key event precipitating Quebecor World into court-ordered protection from its creditors. (Globe and Mail -- Business)
Quebecor World sells European operations May 30, 2008
MONTREAL Quebecor World Inc. has announced a definitive agreement to sell its European operations for 133 million euros, or about $203 million ... 1 million) to Quebecor World, the insolvent international printing company said Thursday ... "The sale of our European operations is an important step in our restructuring activities that we believe should enable us to exit creditor protection in North America as a stronger player in our industry," stated Jacques Mallette, president and CEO of... (Toronto Star)
Built to run ... FAST May 28, 2008
Before he opened his shop in Paragould, the Jonesboro resident worked for 27 years at Quebecor World Press. He originally planned to retire from printing plant when he turned 55, but circumstances changed and one day while on vacation he had a surprise announcement for his wife he had quit his job. (Paragould Daily Press, AR)
Home Capital's First Quarter Sustains Earnings Momentum: Net Income Increases 18.9% Year-Over-Year; Residential and Commercial Mortgage Lending up 58.7% May 12, 2008
0 million, and realized losses on certain equity holdings including the sale of the Company's preferred share holdings of Quebecor World Inc. realizing a loss, net of tax, of $2. 1 million. (Canada Newswire)
Mining for winners among the unloved May 12, 2008
Among the 30 stocks rated sell or underperform are big names like Torstar, Quebecor World and AbitibiBowater, and small-capitalization stocks like Ascalade Communications and Medicure Inc. ... Rubicon Minerals, also a gold miner, has jumped almost 15 per cent in the past week and Quebecor World, which is operating under court protection from its creditors, has gained 12 per cent over the same period ... Quebecor World is your basic nightmare as a stock. (Globe and Mail -- Business)
Quebecor posts $962.2-million loss May 9, 2008
TORONTO Publishing and media group Quebecor Inc. reported its delayed fourth-quarter results Thursday, posting a huge loss because of the woes at its Quebecor World Inc. commercial printing unit ... 3 per cent at Quebecor World ... Quebecor World, which has about 28,000 employees and prints magazines, books and advertising materials, filed for protection from creditors in late January. (Globe and Mail -- Business)
PAPER: Casino operator TROPICANA expected to file for bankruptcy protection... May 6, 2008
This year's largest previous filing for protection from creditors was by Quebecor World Inc., which had rated debt of roughly $1. 8 billion. (The Drudge Report)
320 jobs cut at west-end plant May 3, 2008
A Quebecor World Inc. plant in Toronto that printed the now-defunct Canadian Tire catalogue is cutting hundreds of jobs as part of the struggling commercial printer's three-year restructuring ... Production from the Islington plant will be moved to other Quebecor World plants, company spokesperson Tony Ross said in an interview ... Quebecor World also said yesterday that it plans to close a plant in North Haven, Conn. (Toronto Star)
Quebecor World cutting 320 jobs in Toronto May 2, 2008
THE CANADIAN PRESS A truck waits to load at the Quebecor World plant in Montreal, Monday Jan. 21, 2008 ... A pall has enveloped a Quebecor World Inc. plant in Toronto that printed the defunct Canadian Tire catalogue after the struggling commercial print announced plans today to shed hundreds of jobs as part of its ongoing three-year restructuring ... Quebecor World (TSX: ) , which is operating under court protection from creditors, said the layoffs are part of a three-year retooling plan that is... (Toronto Star)
Quebecor World signs printing agreement with Wenner Media Apr 8, 2008
NEW YORK (Thomson Financial) - Shares of Quebecor World Inc. rose Monday after the company said it has reached a new multi-year agreement with Wenner Media to print its three magazine titles - Rolling Stone, US Weekly and Men's Journal. Quebecor shares were up 14. (Forbes)
Staff briefed Bernier to discuss wireless issue with Mulroney Apr 6, 2008
Because he was a Quebecor director and chairman of major subsidiary Quebecor World Inc., the company would have been required to register Mr. Mulroney as a lobbyist if he met the minister about a policy change. But in 2006, Mr. Bernier was briefed for such a meeting. (Globe and Mail -- National)
Quebecor World shuts plant Apr 1, 2008
MONTREAL Struggling printer Quebecor World Inc. is shutting one of its oldest Canadian plants as it cuts 300 jobs with the closing of a 37-year-old facility in Magog, Que ... The reason it's closing is because it's a part of the retooling and restructuring plan that we started three years ago to relocate in larger, more efficient facilities, Quebecor World spokesman Tony Ross said in an interview ... The work will be transferred to other Quebecor World facilities, but the aging equipment won't... (Globe and Mail)
Quebecor World Will Eliminate 300 Jobs as It Closes Magog, Quebec Office Apr 1, 2008
Quebecor World to Eliminate 300 Jobs, Close Facility (Update2) ... About 200 employees had already been on temporary layoff, which will become permanent, Montreal-based Quebecor World said today in a statement sent by Market Wire ... Quebecor World sought bankruptcy protection in the U.S. and Canada on Jan. 21, saying its assets were as much as $500 million and its more than $1 billion. (Bloomberg -- Canada)
Quebecor World says retooling near completion Apr 1, 2008
MONTREAL -- Struggling printing giant Quebecor World Inc. is close to completing a three-year retooling plan, with the shutdown of a plant in Magog, Que ... Closing the 37-year-old plant, once the pride of Quebecor World founder Pierre P ... The closing, which will end 300 jobs, is not related to the restructuring that Montreal-based Quebecor World is undergoing under court-ordered protection from its creditors, he said. (Globe and Mail)
Quebecor World may lose parent's business Mar 31, 2008
MONTREAL Beleaguered Quebecor World Inc., hit with the loss of major printing contracts recently as it wends its way through bankruptcy court, now faces the possibility that its own parent - Quebecor Inc. - will switch to another printer to handle some of its magazine titles. Publications TVA Inc., Quebec's largest consumer magazine publisher, is considering entering into printing agreements with rivals of Quebecor World for a handful of publications, says a Quebecor spokesman ... Mr. Lavoie... (Globe and Mail -- Business)
Area officials skeptical of Census calculations Mar 28, 2008
Norma Lansing, president of the Greater Effingham Chamber of Commerce & Industry, blamed the downward pressure on the loss of 600 jobs when Quebecor World closed its Effingham printing plant in 2004 and the recent upswing to little bumps in the existing employment base. She added that the future looks even better with more retail development, including an Ashley Furniture store coming to the city s northwest side and plans on track for construction of a Federal Express distribution center along... (Mattoon Journal-Gazette, IL)
Selling the jet to save the firm Mar 27, 2008
Quebecor World to terminate lease on corporate plane and sell into red-hot market ... MONTREAL Top executives at Quebecor World Inc. may soon be saying goodbye to that ultimate status symbol of the business world: the corporate jet ... The move - intended to raise much-needed cash at Quebecor World - seeks to capitalize on the red-hot private-jet market, where it's not unusual to find eager buyers willing to pay a hefty premium to get their hands on a jet right away and avoid waiting for periods... (Globe and Mail -- Business)
Market mayhem? No problem Mar 24, 2008
Problems competitor Quebecor World Inc. has encountered have made investors wary of the sector as have the economic slowdown and deteriorating industry fundamentals. "We believe the market has more than discounted these concerns," he said. (Globe and Mail -- Business)
Quebecor World to Delay Release and Filing of 2007 Financial Statements Mar 19, 2008
Source: Quebecor World Inc. ... MONTREAL, CANADA--(Marketwire - March 18, 2008) - Quebecor World Inc. (TSX: - ) today announces that, in view of its filing for creditor protection in Canada and the United States, it will delay the release and filing of its consolidated financial statements, management's discussion and analysis and annual information form for the year ended December 31, 2007 ... Quebecor World expects that it will only be in a position to release and file its 2007 year-end... (CCNMatthews Press Releases)
Quebecor Delays Annual Results, Meeting as It Waits for Unit's Financials Mar 18, 2008
will delay the release of its 2007 financial results while it waits for statements from its Quebecor World unit, the bankrupt printer of Time and Cosmopolitan magazines ... Quebecor World is ``not in a position'' to provide the parent company with its financial statements, Quebecor said ... Quebecor World filed for bankruptcy in Canada and the U.S. on Jan. 21 after tightening credit markets prevented the company from refinancing its debt. (Bloomberg -- Canada)
Quebecor World Fails to Reach Agreement on $1 Billion Bankruptcy Loan Mar 8, 2008
The case is In re Quebecor World (USA) Inc., 08-10152, U.S. Bankruptcy Court, Southern District of New York (Manhattan). To contact the reporter on this story: in New York bankruptcy court at. (Bloomberg -- Canada)
Equitable Group reports record 2007 results and 2008 objectives Feb 27, 2008
QUICK SEARCH BY ORGANIZATION. FREE SUBSCRIPTION SERVICES. (Canada Newswire)
Quebecor's printing business could prove costly Feb 27, 2008
Media company Quebecor Inc. could take a hit of up to $779 million with its Quebecor World printing subsidiary seeking bankruptcy protection,it said Tuesday ... Quebecor saidthe carrying value ofits investment in Quebecor World was $429 million on Sept. 30, and there were about$350 losses on foreign exchange related to theinvestment ... Quebecor World'sbankcreditors rejected a rescue plan inJanuary,and Quebecor decided not to put more money into the printing business. (CBC News)
Quebecor lays off Merced workers Feb 26, 2008
Quebecor World Inc. has laid off about 30 employees from its Merced plant within the past couple of months, a company spokesman said ... Parent company Quebecor Inc. has asked that Quebecor World change its name so there won't be any confusion between the two. (Fresno Bee)
Quebecor Inc. Announces Record 2007 Results of Quebecor Media Inc., a 54.7% Held Subsidiary Feb 26, 2008
Impact on Quebecor Media Inc. and Quebecor Inc. of Quebecor World Inc.'s decision to place itself under the protection of the Companies' Creditors Arrangement Act in Canada. On January 21, 2008, Quebecor World Inc. placed itself under the protection of the Companies' Creditors Arrangement Act ... Quebecor World and some of its U.S. subsidiaries also placed themselves under the protection of Chapter 11 of the Bankruptcy Code in the United States. (CCNMatthews Press Releases)
One Down And One To Go at Quebecor World Feb 20, 2008
A Quebec Superior Court Judge granted a three-month extension to insolvent printing firm Quebecor World Tuesday, as it tries to restructure its operations and avoid bankruptcy. The judge gave Quebecor World until May 12th to get its financial house in order, which requires if to secure new operating capital ... Shares reacted favourably to the news Tuesday, however analysts expect Quebecor World stock to become worthless during the restructuring process. (580 CFRA Radio)
Quebecor World seeks to extend protection Feb 19, 2008
MONTREAL -- After one month laying the groundwork for what is expected to be a lengthy and complex restructuring, Quebecor World Inc. is back in court today seeking an extension to May 11 of its protection from creditors ... It is expected that an extension of the protection, which was obtained last month in Quebec Superior Court under the Companies' Creditors Arrangement Act, will be granted, given the fact that Montreal-based Quebecor World has barely begun to scratch the surface in its... (Globe and Mail)
Quebecor World loses major client to rival Feb 17, 2008
MONTREAL -- Quebecor World Inc., which is under court protection from its creditors, has lost a major Canadian magazine printing contract to rival Transcontinental Inc. Rogers Publishing Ltd., the magazine division of Rogers Communications Inc., has signed a six-year contract worth an estimated $210-million to have Transcontinental print all of Rogers' publications, including magazine titles such as Chatelaine, Maclean's and Canadian Business. The deal - which takes effect Feb. 1, 2009, and... (Globe and Mail)
Mutual fund sales plunge to $460.5M in January; industry assets sag Feb 17, 2008
Transcontinental Inc. has won an important round in the battle of Quebec's printing giants after wrestling from rival Quebecor World a long-term contract to print all the magazines of Rogers Communications Inc.. Money Features. (CBC News)
Fourth Quarter Results Propel Home Capital to Record Performance in 2007: Earnings per Share Rise by 31.7% for the Year; Return on Equity Stands at 28.9% Feb 12, 2008
Within the available for sale securities portfolio, the Company holds 127,100 preferred shares in Quebecor World Inc. Prior to December 31, 2007, the Company exercised its option to convert the preferred shares into common shares under the terms of the prospectus. Subsequent to year-end, Quebecor World Inc. filed for bankruptcy protection and the Company expects to realize a loss of $2. (Canada Newswire)
* S&P warns of rise in distressed corporate debt Jan 26, 2008
This month has seen several major bankruptcy filings, including those of Quebecor World Inc, which listed more than US$7 billion in liabilities, and Buffets Inc, which listed more than US$1 billion in debt. Ssaid the number of companies at risk of default also has expanded. (Taipei Times, Taiwan -- World)
Parent company of Effingham printer granted bankruptcy protection Jan 25, 2008
EFFINGHAM The parent company of the Quebecor World Petty printing operations in Effingham was given Chapter 11 bankruptcy protection in U.S. courts Wednesday. On a news release on its Web site Wednesday, Quebecor World announced it had received the initial United States court orders it sought as part of its court supervised reorganization and protection ... The courts authorized Quebecor World to borrow up to 750 million from Credit Suisse and Morgan Stanley, the press release said. (Mattoon Journal-Gazette, IL)
Quebecor World gets US approval for $750 mln loan Jan 25, 2008
TORONTO, Jan 24 (Reuters) - Quebecor World, the embattled commercial printer that filed for creditor protection this week, has staved off immediate financial disaster after clearing a hurdle to getting its hands on a $750 million cash infusion ... "The proceeds of the financing will be used to fund its operations as the company reorganizes under the protection of the courts," Quebecor World said. (Reuters)
Quebecor World Receives U.S. Court Approval of $1 Billion Financing Plan Jan 24, 2008
Source: Quebecor World Inc. ... MONTREAL, QUEBEC--(Marketwire - Jan. 23, 2008) - Quebecor World Inc. (IQW:TSX) (NYSE: - ) today received the initial United States court orders it sought as part of its court supervised reorganization and protection ... United States Judge James Peck today provided the final authorization needed for Quebecor World Inc. to borrow up to $750 million under the terms of the credit facility from Credit Suisse and Morgan Stanley. (CCNMatthews Press Releases)
Quebecor files for bankruptcy Jan 24, 2008
Quebecor World Inc., which operates a plant at 100 N. Miller St., issued a statement from its Montreal, Canada, headquarters that the corporation's board of directors unanimously authorized the bankruptcy filing as the best alternative for the long-term interests of the company, its employees, customers, creditors and other stakeholders ... Quebecor World's President and CEO Jacques Mallette in the official statement cited industry pressures, particularly in Europe, combined with the inability... (Waynesboro Record Herald, PA)
Quebecor World Faces Deadline for $1 Billion Bankruptcy Loan Later Today Jan 24, 2008
Quebecor World Faces Deadline for $1 Billion Bankruptcy Loan ... Jan. 23 (Bloomberg) -- Quebecor World (USA) Inc., the printer of Time and Cosmopolitan magazines and Harry Potter books, said it has until 5 p.m. New York time today to win court permission for a $1 billion loan to keep operating in bankruptcy ... Michael Canning, a lawyer for Quebecor World (USA), told U.S. Bankruptcy Judge James Peck in Manhattan that lead arrangers Credit Suisse Securities and Morgan Stanley set the deadline. (Bloomberg -- Canada)
* Quebecor World files for bankruptcy protection Jan 23, 2008
Quebecor World files for bankruptcy protection ... Quebecor World, the second-largest commercial printer in the world, filed for bankruptcy protection in Canada and the US on Monday ... Quebecor World's shares closed at C$0. (Taipei Times, Taiwan -- World)
Quebecor World to appear in U.S. bankruptcy court Jan 23, 2008
MONTREAL Lawyers for Quebecor World Inc. are scheduled to appear in U.S. bankruptcy court on Wednesday, one day later than previously expected ... The money will help Quebecor World, a subsidiary of media company Quebecor Inc., to cover operating expenses, including wages and day-to-day operations, over the next 13 weeks ... In a court report, it said Quebecor World will require up to $548-million in the first week after filing to finance the bankruptcy proceedings and to support the European... (Globe and Mail -- Business)
Quebecor World wins protection Jan 23, 2008
MONTREAL Quebecor World Inc. has won an important nod from a Canadian judge to enter into creditor protection ... "We want to focus on getting the money there so we can do whatever is right and whatever is necessary to make this company strong and get everybody comfortable that it's business as usual going forward," Derrick Tay, a lawyer acting for Quebecor World, said in an interview yesterday after appearing in court ... Quebecor World said it has arranged commitments from Cr;dit Suisse and... (Toronto Star)
Quebecor World secures creditor protection Jan 22, 2008
MONTREAL Quebecor World Inc., unable to strike a compromise with its bankers over the weekend, secured court protection from creditors Monday ... He said in his decision that without CCAA protection, Quebecor World would be literally out of cash to pay its employees and day-to-day operations ... Quebecor said it is an important creditor and customer of Quebecor World, and its biggest shareholder, and will monitor the court proceedings closely "and work with its financial and legal advisers in... (Globe and Mail)
Quebecor World Files for Creditor Protection After Talks Over Rescue Fail Jan 22, 2008
Quebecor World Files for Protection from Creditors (Update4) ... Jan. 21 (Bloomberg) -- Quebecor World Inc., North America's second-largest publicly traded printer, sought protection from creditors in the U.S. and Canada after talks over a rescue deal failed ... Credit Suisse Group and Morgan Stanley agreed to lend $1 billion so Quebecor World can meet current operating needs, the company said. (Bloomberg -- Canada)
Bank of Canada expected to trim key lending rate Jan 22, 2008
Financially troubled printing giant Quebecor World Inc. on Monday obtained creditor protection in Quebec ... Financially troubled printing giant Quebecor World Inc. on Monday obtained creditor protection in Quebec. (CBC Toronto)
Quebecor World doesn't meet deadline Jan 21, 2008
MONTREAL Quebecor World Inc. failed to indicate Sunday whether it met conditions to secure a $400-million rescue plan to avoid bankruptcy ... Calls to Quebecor World were not returned Sunday and the company did not put out a news release. (Globe and Mail)
Nurun bid a fresh headache for Quebecor Jan 21, 2008
Meanwhile, Quebecor World Inc. missed a deadline Sunday to convince its bankers to accept a $400-million refinancing package led by the printer's parent and another lender ... Without the approval of a syndicate led by Royal Bank of Canada, Quebecor World could not accept the $400-million injection from Quebecor and Tricap Partners Ltd. since the new borrowing would technically rank ahead of existing debt in the event the company was forced to seek creditor protection. (Globe and Mail)
Quebecor World expected to file for bankruptcy protection Jan 21, 2008
MONTREAL - Printing giant Quebecor World Inc. is expected to file for creditor protection Monday after a last-ditch rescue plan failed over the weekend ... Quebecor World, controlled by conglomerate Quebecor Inc., was pushed to the brink after a refinancing effort fell apart, as well as the sale of its European assets, last month ... A filing for creditor protection could barely have been contemplated in 1999, when Quebecor World became the world's largest commercial printer following years of... (National Post)
Quebecor World retooling rescue proposal Jan 20, 2008
A financial bailout of Quebecor World Inc. was being reworked yesterday in a last-ditch attempt to win support from the beleaguered printer's bankers for a $400-million refinancing offer. Ahead of a self-imposed Sunday deadline for a deal, Montreal-based Quebecor World is offering to soften the conditions attached to a rescue package from parent Quebecor Inc. and Tricap Partners Ltd., a unit of Brookfield Asset Management Inc. ... There is also talk that a global bank with no existing loans to... (Globe and Mail)
Scenes from a meltdown Jan 18, 2008
ladeau hit the ceiling back in 2002 when reports surfaced suggesting a group of U.S. managers at Quebecor World Inc., backed by legendary buyout firm Kohlberg Kravis Roberts & Co., were poised to make a $5-billion offer for the commercial printing giant ... He shot it down without even taking a cursory look and Quebecor World immediately parted ways with the executive behind the plan, Marc Reisch ... But if he were, turning down an opportunity to sell Quebecor World when the printer's shares... (Globe and Mail -- Business)
Equitable Group hit by Quebecor World Jan 18, 2008
com: Equitable writes down investment in Quebecor World. Equitable writes down investment in Quebecor World ... 1-million writedown for its investment in troubled commercial printer Quebecor World Inc.. (Globe and Mail -- Business)
Quebecor World Extends Deadline for Conditions Precedent to the CDN$400 Million Rescue Financing From Quebecor Inc. and Tricap Partners Ltd. Jan 17, 2008
Source: Quebecor World Inc. ... MONTREAL, QUEBEC--(Marketwire - Jan. 16, 2008) - Quebecor World Inc. (TSX: - ; NYSE: - ) announced today that it has extended the deadline for the satisfaction of certain conditions precedent to the previously announced CDN$400 million rescue financing agreement with Quebecor Inc. and Tricap Partners Ltd. Quebecor Inc. and Tricap Partners Ltd. have indicated that they have made progress on the satisfaction of these conditions and have requested additional time to... (CCNMatthews Press Releases)
Quebecor World buys more time Jan 17, 2008
Embattled printing giant Quebecor World Inc. has bought some time allowing it to try and find a solution to its financial troubles ... Quebecor and Tricap "have indicated that they have made progress on the satisfaction of these conditions and have requested additional time to attempt to satisfy them," Quebecor World said in a press release ... Quebecor World shares tumbled to 25 cents on the Toronto Stock Exchange on Wednesday morning. (Globe and Mail)
Quebecor World Slumps, Awaits Reply to Call for More Time to Raise Funds Jan 17, 2008
Jan. 16 (Bloomberg) -- Quebecor World Inc.'s stock and bonds plunged after the company missed a deadline to raise funds and failed to make a payment on $400 million of debt, boosting concern banks may force the second-largest North American printer into default ... Quebecor World fell 29 cents, or 61 percent, to 19 cents at 4:10 p.m. on the Toronto Stock Exchange ... Quebecor World said it's still working with its parent and Tricap, a private-equity fund managed by Brookfield Asset Management... (Bloomberg -- Canada)
Quebecor World Makes Announcement With Respect to Bank and Securitization Waivers Jan 16, 2008
Source: Quebecor World Inc. ... MONTREAL, QUEBEC--(Marketwire - Jan. 15, 2008) - Quebecor World Inc. (TSX: - ; NYSE: - ) announced today that in connection with the waivers obtained from its banking syndicate and the sponsors of its securitization program announced on December 31, 2007, it has not obtained by January 15, 2008, US$125 million of new financing, as had been required under the terms of the waivers ... The non-satisfaction of this condition of the December 31, 2007 waiver does not... (CCNMatthews Press Releases)
Quebecor World misses deadline Jan 16, 2008
Quebecor World Inc. has missed the deadline to come up with $125- million (U.S.) in new financing ... Quebecor World is trying to get the banks to agree to a surprise $400- million bailout plan offered by parent Quebecor Inc. and Tricap Partners Ltd., a private equity fund of Brookfield Asset Management Inc.. (Globe and Mail)
Quebecor World's financial crisis deepens Jan 16, 2008
Quebecor World is trying to win lender support for a $400-million rescue financing package from parent Quebecor and Tricap Partners Ltd., a restructuring fund run by Brookfield Asset Management ... To keep its securitization program in place, Quebecor World asked lenders and sponsors for another week ... Quebecor World said lenders asked for significant fees to extend the deadline. (Globe and Mail -- Business)
UPDATE 1-Quebecor World fails to obtain new financing Jan 16, 2008
MONTREAL, Jan 15 (Reuters) - Quebecor World Inc's (IQW.TO: , , ) liquidity troubles deepened on Tuesday as the big commercial printer said it failed to obtain $125 million of new financing required under waivers from its banking syndicate and missed a debt payment on $400 million of notes ... Quebecor World said it requested a one week waiver of the requirement to obtain $125 million of new financing, but had refused to pay the waiver costs demanded by the banking syndicate as it was trying to... (Reuters)
Quebecor World Accepts C$400 Million Rescue Plan Led by Parent Quebecor Jan 15, 2008
Quebecor World Accepts C$400 Million Rescue Plan (Update1) ... Jan. 14 (Bloomberg) -- Quebecor World Inc., North America's second-biggest printer, accepted a C$400 million ($393 million) rescue plan from its parent and Brookfield Asset Management to head off bankruptcy ... The offer includes C$200 million of interim financing and is dependent on consents or waivers from lenders and sponsors of Quebecor World's securitization programs, the Montreal-based company said today in a statement. (Bloomberg -- Canada)
Bankers balk at Quebecor rescue bid Jan 15, 2008
MONTREAL and TORONTO -A daring proposal to save Quebecor World Inc. from financial ruin has received a cool reception from its banks, which had imposed a deadline of today for the company to come up with US$125-million in new outside money ... Late Friday, Quebecor World's publicly traded parent, conglomerate Quebecor Inc., and Brookfield Asset Management Inc. unit Tricap Partners, an investor in restructuring plays, revealed a plan to invest US$400-million in the printing giant to rescue the... (Financial Post)
Quebecor World Gets $393 Million Funding Proposal From Parent, Brookfield Jan 12, 2008
Quebecor World Gets Funding Proposal From Brookfield (Update1) ... Jan. 11 (Bloomberg) -- Quebecor World Inc., North America's second-biggest printer, received a proposal for C$400 million ($393 million) in funding from its parent and Brookfield Asset Management to recapitalize the company and prevent default ... Quebecor World must raise $125 million in financing by Jan. 15 to meet bankers' demands and repay part of its debt. (Bloomberg -- Canada)
Quebecor, Brookfield pitch printer rescue plan Jan 12, 2008
MONTREAL, TORONTO Quebecor Inc. and Brookfield Asset Management Inc. have thrown a controversial lifeline to struggling printing giant Quebecor World Inc. in the form of a proposed $400-million financing package. Quebecor World said late yesterday it has received a binding proposal jointly from parent Quebecor controlled by the Pladeau family and Tricap Partners Ltd., a private equity fund managed by Brookfield that specializes in restructurings ... No details of the rescue financing were... (Globe and Mail -- Business)
UPDATE 1-Quebecor World receives C$400 mln rescue proposal Jan 12, 2008
TO: , , ) have submitted a C$400 million ($392 million) refinancing proposal in a bid to rescue troubled commercial printer Quebecor World Inc (IQW.TO: , , ). Quebecor and Tricap Partners, the Brookfield fund, said late on Friday that if the deal is accepted by Quebecor World, they will immediately make available C$200 million to the printer to make sure it has enough liquidity until the closing date of the rescue financing, expected at the end of March ... 5 percent of Quebecor World's equity... (Reuters)
