MONTREAL, Feb. 17 /CNW Telbec/ - Transcontinental Inc. today announced it
has extended a $300 million securitization program for an additional year. The
program, established in 2001, now matures in August 2010. Transcontinental
will continue to sell some of its accounts receivables on a continuous basis
to a trust managed by RBC Capital Markets. Terms and conditions of this
extension reflect the current environment and remain attractive compared with
other sources of financing.
"This announcement is another step in our financing plan for 2009," said
Benoit Huard, Vice-President and Chief Financial Officer, Transcontinental
Inc. "We are very pleased that our financial partners, RBC in this case,
continue to demonstrate their confidence in Transcontinental, and recognize
our disciplined approach to financial management, particularly considering
current market conditions."
Earlier this month, Transcontinental announced it had completed a private
placement offering of $100 million in unsecured debentures underwritten by the
Solidarity Fund QFL, a development capital fund based in Quebec.
Transcontinental provides printing, publishing and marketing services
that deliver exceptional value to its clients and provide a unique, integrated
platform for them to reach and retain their target audiences. Transcontinental
is the largest printer in Canada and sixth-largest in North America. It is
also the country's leading publisher of consumer magazines and French-language
educational resources, its second-largest community newspaper publisher, and
its digital platform delivers unique content through more than 120 Web sites.
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)
operates in Canada, the United States and Mexico, and reported revenues of
C$2.4 billion in 2008. For more information about the Corporation, please
For further information:
For further information: Media: Nessa Prendergast, Director, Media
Relations, Transcontinental Inc., (514) 954-2809,
firstname.lastname@example.org, www.transcontinental.com; Financial
Community: Jennifer F. McCaughey, Director, Investor Relations,
Transcontinental Inc., (514) 954-2821, email@example.com