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Montreal, May 5, 2009 – Transcontinental
Inc. today announced that it has reached an agreement with
its bank syndicate to renew credit facilities of $125 million
for one year, giving it additional leeway in managing its
working capital and capital expenditures or to meet any other
specific need.
“Given the current financial context, we are especially
proud to have finalized the renewal of these credit facilities,”
stated Benoît Huard, Vice President and Chief Financial
Officer of Transcontinental. “This agreement once again
confirms the financial market’s confidence in our company
and its financial strength, as well as its recognition of
our development strategy and our outlook for the future. Finally,
we are well on our way to reaching other financing agreements
very soon, which will provide us with even more flexibility.”
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 fifth-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) has approximately 14,000
employees 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
Maxim Labrie
Media Relations
Transcontinental Inc.
Telephone: 514 954-4176
maxim.labrie@transcontinental.ca
Financial Community
Jennifer F. McCaughey
Director, Investor Relations
Transcontinental Inc.
Telephone: 514 954 2821
jennifer.mccaughey@transcontinental.ca |
