Quebecor World Inc.

Quebecor World Inc.

August 31, 2007 14:36 ET

Quebecor World (USA) Inc. Announces Expiration of its Offers to Purchase Outstanding Private Notes of Quebecor World Capital Corporation and Related Consent Solicitation

MONTREAL, CANADA--(Marketwire - Aug. 31, 2007) - Quebecor World (USA) Inc. ("QWUSA"), a wholly-owned subsidiary of Quebecor World Inc. (TSX:IQW)(NYSE:IQW), today announced the expiration of its previously announced cash tender offers to purchase (i) Quebecor World Capital Corporation's ("Quebecor World Capital") outstanding 8.42% Senior Notes, Series A, due July 15, 2010 (the "Series A Notes") and 8.52% Senior Notes, Series B, due July 15, 2012 (the "Series B Notes") and (ii) Quebecor World Capital's outstanding 8.54%, Senior Notes, Series C, due September 15, 2015 (the "Series C Notes") and 8.69% Senior Notes, Series D, due September 15, 2020 (the "Series D Notes" and, together with the Series A Notes, the Series B Notes and the Series C Notes, the "Notes") and the related consent solicitation seeking to effect the proposed amendments to the note purchase agreements governing the Notes (the "Note Purchase Agreements").

The tender offers and the related consent solicitation were made upon and subject to the terms and conditions set forth in the Offer to Purchase and Consent Solicitation dated August 3, 2007 and the related Consent and Letter of Transmittal.

The tender offers for the Notes expired at midnight, New York City time, on August 30, 2007 (the "Expiration Date"). One condition to the tender offers was the receipt of the consents from holders of more than 50% in aggregate principal amount of the Series A Notes and the Series B Notes, taken as a class, and holders of more than 50% in aggregate principal amount of the Series C Notes and the Series D Notes, taken as a class (the "Requisite Consents"). As of the Expiration Date, the Requisite Consents were not received. Consequently, QWUSA will not purchase any Notes pursuant to the tender offers, none of the proposed amendments to the Note Purchase Agreements will be effected and the previously announced tender offer consideration and consent fee will not be paid or become payable to any holder of the Notes.

The Dealer Manager for the tender offers and the consent solicitation is Banc of America Securities LLC. Global Bondholder Services Corporation is the Information Agent and the Depositary for the tender offers and the consent solicitation. Questions regarding the tender offers may be directed to Banc of America Securities LLC at (312) 828-5846 (collect) or Global Bondholder Services Corporation at (866) 470-4300 (toll free) or at (212) 430-3774 (collect).

This communication is for informational purposes only. It is not intended as, and does not constitute, an offer to purchase, a solicitation for the purchase or sale of or a solicitation of any consent with respect to any financial instrument or security or as an official confirmation of any transaction. Any comments or statements made herein do not necessarily reflect those of Banc of America Securities LLC, Global Bondholder Services Corporation, or their respective subsidiaries and affiliates.

Forward looking statements

This press release may include "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 Quebecor World Inc. (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 related to the Company's business" section of the Company's Management's Discussion and Analysis for the year ended December 31, 2006, and the Company's quarterly Management's Discussion and Analysis and in the "Risk Factors" section of the Company's Annual Information Form for the year ended December 31, 2006.

The forward-looking statements in this press release reflect the Company's expectations as of August 31, 2007 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 (USA) Inc. and Quebecor World Capital Corporation are direct and indirect wholly-owned subsidiaries of Quebecor World Inc. Quebecor World Inc. (TSX:IQW)(NYSE:IQW) is a world leader in providing high-value, complete marketing and advertising solutions to leading retailers, catalogers, branded-goods companies and other businesses with marketing and advertising activities, as well as complete, full-service print solutions for publishers. The Company is a market leader in most of its major product categories, which include advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics, mail list technologies and other value-added services. Quebecor World has approximately 27,500 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.

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Contact Information

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