Quebecor's Unsecured Credit For MAN Roland Presses
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Quebecor World product story
Edited by the Printingtalk editorial team
Jan 18, 2006
Quebecor World is to buy new MAN Roland presses as part of its previously announced US re-tooling programme.
Quebecor World is to buy new MAN Roland presses as part of its previously announced US re-tooling programme.
The company has concluded an agreement with Societe Generale Corporate and Investment Banking for the Canadian dollar equivalent of 136 million Euros as a long term committed credit facility for that purpose.
The unsecured credit facility will be drawn over the course of the next 25 months, and repaid over the next 10 years.
The facility will provide funding at a cost that is below that of the company's conventional unsecured financing alternatives, said Quebecor.
According to Jacques Mallette, Quebecor World's executive vice-president and chief financial officer: "This facility provides low cost funding, whilst further diversifying our sources of capital.
Combined with the December, 2005 renewal and extension of our $1 billion credit facility to 2009, the company now has a very solid liquidity position going in to 2006".
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