Transcontinental Secures $100 Million in Financing from the Solidarity Fund QFL

摘要

Transcontinental Inc.rnannounced it has completed a private placement offering of $100 million in unsecured debentures. These debentures were underwritten by the Solidarity Fund QFL, a development capital fund based in Quebec.rnThe placement is comprised of two debentures of $50 million each. The first has a term of five years and bears interest, payable every six months, at a rate of 8.06%. The second has a term of ten years and bears interest, payable every six months, at a rate of 6.77% for the first two years. The rate for the following eight years will be set at the beginning of this period at the then prevailing market rate. The Solidarity Fund QFL has a call option on this second debenture on its second anniversary. Other conditions governing these two debentures are customary and no more restrictive than existing indebtedness. Proceeds from issuance of these debentures will be used to financernthe capital projects that were announced in recent months.