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Montreal, February 17, 2009 – 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.
About Transcontinental
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
visit www.transcontinental.com.
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For information:
Media
Nessa Prendergast
Director, Media Relations
Transcontinental Inc.
Telephone: (514) 954 2809
nessa.prendergast@transcontinental.ca
Financial Community
Jennifer F. McCaughey
Director, Investor Relations
Transcontinental Inc.
Telephone: (514) 954 2821
jennifer.mccaughey@transcontinental.ca
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