Videotron Completes US$260M Private Placement of Senior Notes

On March 5, 2009, Videotron Ltd. (a wholly owned subsidiary of Quebecor Media Inc.), the largest cable operator in the Province of Québec (the third largest in Canada) and a major provider of Internet and telephony services in the Province of Québec, completed the institutional private placement in the United States and Canada of US$260 million aggregate principal amount of its 9⅛ per cent Senior Notes due 2018.

Videotron intends to use the net proceeds of this offering to repay all drawings under its senior secured credit facility and for general corporate purposes. The private placement of the Senior Notes was led by Banc of America Securities LLC, Citigroup Global Markets Inc. and BMO Capital Markets Corp., as joint book-running managers.

The transactions were led in-house by Martin Corbo, senior legal counsel, financing and M&A and Christian Marcoux, senior legal counsel, compliance. Ogilvy Renault LLP acted as US and Canadian counsel to Videotron. Ogilvy Renault's team included Marc Lacourcière, Pete Wiazowski, David Millette and Mathieu Deschamps (corporate and securities); Jules Charette (tax) and Steve Tenai (regulatory). Ropes & Gray LLP (Boston) advised Videotron Ltd. with respect to United States tax matters, with a team led by Amanda Holt.

The joint book-running managers were represented on United States law matters by Shearman & Sterling LLP, with a team that included Jason Lehner, Adam Givertz and Adam Lewinberg (securities) and Laurence Crouch and Anil Kalia (tax).