Power Corporation of Canada - Issue of debentures



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    Readers are referred to the section entitled "Forward-looking
    Statements" at the end of this release

    MONTREAL, April 15 /CNW Telbec/ - Power Corporation of Canada announced
today that it has priced the issuance of an aggregate principal amount of $400
million debentures (the "Debentures") consisting of $250 million principal
amount of 7.57% debentures due April 22, 2019 (the "10 Year Debentures") and
$150 million principal amount of 8.57% debentures due April 22, 2039 (the "30
Year Debentures"). The Debentures will be offered through a group of agents to
be led by BMO Nesbitt Burns Inc. and Scotia Capital Inc.
    The 10 Year Debentures will be dated April 20, 2009 and will mature on
April 22, 2019. Interest on the 10 Year Debentures at the rate of 7.57% per
annum will be payable semi-annually in arrears in April and October in each
year, commencing October 22, 2009, until April 22, 2019. The 10 Year
Debentures have been priced to provide a yield to maturity of 7.578%.
    The 30 Year Debentures will be dated April 20, 2009 and will mature on
April 22, 2039. Interest on the 30 Year Debentures at the rate of 8.57% per
annum will be payable semi-annually in arrears in April and October in each
year, commencing October 22, 2009, until April 22, 2039. The 30 Year
Debentures have been priced to provide a yield to maturity of 8.577%.
    The credit rating for senior unsecured Power debentures assigned by S&P
is A and by DBRS is A(High).
    The offering of Debentures is expected to close on or about April 20,
2009. The net proceeds will be used to supplement the Corporation's financial
resources and for general corporate purposes.
    The offering will be made pursuant to a prospectus supplement to Power's
short form base shelf prospectus dated November 18, 2008. The supplement, once
filed, will be available on SEDAR at www.sedar.com.
    The securities offered have not been and will not be registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any sale of the
securities in any State in which such offer, solicitation or sale would be
unlawful.

    Power Corporation of Canada (TSX: POW) is a diversified international
management and holding company with interests in the financial services
industry in North America and Europe. Through affiliates, Power holds
diversified industrial interests in Europe and China.

    Not for distribution to U.S. news wire services or dissemination in the
United States.

    Forward-looking Statements
    --------------------------

    Certain statements in this News Release, other than statements of
historical fact, are forward-looking statements based on certain assumptions
and reflect the Corporation's and its subsidiaries' current expectations.
Forward-looking statements are provided for the purposes of assisting the
reader in understanding the Corporation's financial position and results of
operations as at and for the periods ended on certain dates and to present
information about management's current expectations and plans relating to the
future and readers are cautioned that such statements may not be appropriate
for other purposes. These statements may include, without limitation,
statements regarding the operations, business, financial condition, expected
financial results, performance, prospects, opportunities, priorities, targets,
goals, ongoing objectives, strategies and outlook of the Corporation and its
subsidiaries, as well as the outlook for North American and international
economies, for the current fiscal year and subsequent periods. Forward-looking
statements include statements that are predictive in nature, depend upon or
refer to future events or conditions, or include words such as "expects",
"anticipates", "plans", "believes", "estimates", "seeks", "intends",
"targets", "projects", "forecasts" or negative versions thereof and other
similar expressions, or future or conditional verbs such as "may", "will",
"should", "would" and "could".
    This information is based upon certain material factors or assumptions
that were applied in drawing a conclusion or making a forecast or projection
as reflected in the forward-looking statements, including perception of
historical trends, current conditions and expected future developments, as
well as other factors that are believed to be appropriate in the
circumstances.
    By its nature, this information is subject to inherent risks and
uncertainties that may be general or specific and which give rise to the
possibility that expectations, forecasts, predictions, projections or
conclusions will not prove to be accurate, that assumptions may not be correct
and that objectives, strategic goals and priorities will not be achieved. A
variety of material factors, many of which are beyond the Corporation's and
its subsidiaries' control, affect the operations, performance and results of
the Corporation and its subsidiaries, and their businesses, and could cause
actual results to differ materially from current expectations of estimated or
anticipated events or results. These factors include, but are not limited to:
the impact or unanticipated impact of general economic, political and market
factors in North America and internationally, interest and foreign exchange
rates, global equity and capital markets, management of market liquidity and
funding risks, changes in accounting policies and methods used to report
financial condition (including uncertainties associated with critical
accounting assumptions and estimates), the effect of applying future
accounting changes (including adoption of International Financial Reporting
Standards), business competition, operational and reputational risks,
technological change, changes in government regulation and legislation,
changes in tax laws, unexpected judicial or regulatory proceedings,
catastrophic events, the Corporation's and its subsidiaries' ability to
complete strategic transactions, integrate acquisitions and implement other
growth strategies, and the Corporation's and its subsidiaries' success in
anticipating and managing the foregoing factors.
    The reader is cautioned that the foregoing list of factors is not
exhaustive of the factors that may affect the Corporation's and its
subsidiaries' forward-looking statements. The reader is also cautioned to
consider these and other factors, uncertainties and potential events carefully
and not to put undue reliance on forward-looking statements.
    Other than as specifically required by law, the Corporation undertakes no
obligation to update any forward-looking statement to reflect events or
circumstances after the date on which such statement is made, or to reflect
the occurrence of unanticipated events, whether as a result of new
information, future events or results, or otherwise.
    Additional information about the risks and uncertainties of the
Corporation's business is provided in its disclosure materials, including its
most recent Management Discussion and Analysis of Operating Results and Annual
Information Form, filed with the securities regulatory authorities in Canada,
available at www.sedar.com.




For further information:

For further information: Mr. Edward Johnson, Senior Vice-President,
General Counsel and Secretary, (514) 286-7400


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890