Quebecor World Inc.

Quebecor World Inc.

December 18, 2006 15:42 ET

Quebecor World Announces that it has Successfully Completed its Offering of US$400 Million of Senior Notes

MONTREAL, CANADA--(CCNMatthews - Dec. 18, 2006) - Quebecor World Inc. (TSX:IQW)(NYSE:IQW) announced today that it has successfully closed its private offering of US$400 million aggregate principal amount of 93/4% Senior Notes due January 15, 2015, which were sold at par. The new Senior Notes were issued by Quebecor World Inc. (the "Company") and were unconditionally guaranteed on a senior unsecured basis by certain of its wholly-owned subsidiaries, namely Quebecor World (USA) Inc., Quebecor World Capital LLC and Quebecor World Capital ULC. The net proceeds from the sale of the Senior Notes amount to approximately US$393 million and will be used to reduce indebtedness, including to repurchase up to US$125 million of debt securities of Quebecor World Capital Corporation, a wholly-owned subsidiary of the Company, namely 8.54% senior notes due 2015, 8.69% senior notes due 2020, 8.42% senior notes due 2010 and 8.52% senior notes due 2012 under the cash tender offers commenced by Quebecor World (USA) Inc. on November 30, 2006, to repay in full US$150 million in 7.25% senior debentures of Quebecor World Capital Corporation due in January 2007 and to repay borrowings under the Company's revolving credit facility. The balance of the proceeds, if any, will be used for general corporate purposes.

The offering was made on a private placement basis to qualified institutional buyers in the United States in reliance upon Rule 144A under the U.S. Securities Act of 1933, as amended. The new Senior Notes have not been, and will not be, registered under the U.S. Securities Act of 1933 or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. In Canada, the offering of new Senior Notes was made on a prospectus exempt basis under applicable Canadian securities laws and, accordingly, any re-sale of the Senior Notes in Canada will be made on a basis which is exempt from the prospectus and dealer registration requirements of such securities laws.

Forward looking statements

This press release includes "forward-looking statements" that involve risks and uncertainties. All statements other than statements of historical facts included in this press release, including statements regarding the prospects of the industry and prospects, plans, financial position and business strategy of the Company, may constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities legislation and regulations. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "foresee," "believe" or "continue" or the negatives of these terms or variations of them or similar terminology. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Forward-looking statements do not take into account the effect that transactions or non-recurring or other special items announced or occurring after the statements are made have on the Company's business. For example, they do not include the effect of dispositions, acquisitions, other business transactions, asset writedowns or other charges announced or occurring after forward-looking statements are made.

Investors and others are cautioned that undue reliance should not be placed on any forward-looking statements. For more information on the risks, uncertainties and assumptions that could cause the Company's actual results to differ from current expectations, please refer to the Company's public filings available at, and In particular, further details and descriptions of these and other factors are disclosed in the "Risks and Uncertainties" section of the Company's Management's Discussion and Analysis for the year ended December 31, 2005, and the "Risk Factors" section of the Company's Annual Information Form for the year ended December 31, 2005.

The forward-looking statements in this press release reflect the Company's expectations as of December 18, 2006 and are subject to change after this date. The Company expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by the applicable securities laws.

About Quebecor World

Quebecor World Inc. (TSX:IQW)(NYSE:IQW) is a world leader in providing high-value, complete print solutions to leading publishers, retailers, catalogers and other businesses with marketing and advertising activities. It is a market leader in most of its major product categories which include magazines, inserts and circulars, books, catalogs, direct mail, directories, digital pre-media, logistics, mail list technologies and other value added services. Quebecor World has approximately 29,000 employees working in more than 120 printing and related facilities in the United States, Canada, Argentina, Austria, Belgium, Brazil, Chile, Colombia, Finland, France, India, Mexico, Peru, Spain, Sweden, Switzerland and the United Kingdom.

Contact Information

  • Quebecor World Inc.
    Tony Ross
    Director, Communications
    Quebecor World Inc.
    Roland Ribotti
    Senior Director, Investor Relations and Assistant-Treasurer