OTTAWA, Aug. 4 /CNW Telbec/ - Export Development Canada (EDC) today
announced that it provided CAD 25 million in financing towards a revolving
credit facility for Montreal-based Transcontinental Inc. (Transcontinental).
"As one of the largest printers in North America and an established
exporter, EDC was happy to add capacity to Transcontinal's facility as the
credit crunch continues to constrain the private sector lenders," said Stephen
Poloz, Senior Vice-President, Financing Products Group.
EDC participated in the facility with six other private sector lenders.
This transaction was facilitated under EDC's temporary two-year broadening of
its mandate to undertake domestic financing and insurance. EDC's domestic
powers were enacted on March 12, 2009.
Transcontinental provides printing, publishing and marketing services
that deliver exceptional value to its clients along with a unique, integrated
platform for them to reach and retain their target audiences. Transcontinental
is the largest printer in Canada and the sixth largest in North America. It is
also Canada's leading publisher of consumer magazines and French-language
educational resources as well as the country's second-largest community
newspaper publisher. Transcontinental's digital platform delivers unique
content through more than 120 websites. Its Marketing Communications Sector
provides advertising services and marketing products using new communications
platforms supported by database analytics, premedia, email marketing, and
custom communications. Transcontinental is a growing company with a culture of
continuous improvement and financial discipline, whose values, including
respect, innovation and integrity, are central to its operation.
Transcontinental (TSX: TCL.A, TCL.B) employs approximately 13,500
employees in Canada, the United States and Mexico, and reported revenues of
$2.4 billion in 2008. For more information about the Corporation, please visit
EDC is Canada's export credit agency, offering innovative commercial
solutions to help Canadian exporters and investors expand their international
business. EDC's knowledge and partnerships are used by more than 8,300
Canadian companies and their global customers in up to 200 markets worldwide
each year. EDC is financially self-sustaining, is a recognized leader in
financial reporting and economic analysis, and has been recognized as one of
Canada's Top 100 Employers for eight consecutive years.
For further information:
For further information: Media contact: Phil Taylor, Export Development
Canada, Tel: (613) 598-2904, Blackberry: email@example.com; Maxim Labrie, Media
Relations, Transcontinental Inc., Telephone: (514) 954-4176,
firstname.lastname@example.org; Jennifer F. McCaughey, Director, Investor
Relations, Transcontinental Inc., Telephone: (514) 954-2821,