Quebecor World Withdraws Refinancing Plan
Montréal, Quebec, Canada, 20 November 2007 – Quebecor World Inc. (TSX: IQW, NYSE: IQW) announced today that it was withdrawing its refinancing plan involving an offer of approximately CAD 250 million of its equity shares, an offer on a private placement basis of an aggregate of CAD 500 million of new debt securities and amendments to the company’s secured credit facilities.
The company has decided to withdraw the refinancing plan due to adverse current financial market conditions. The company will continue to evaluate financing alternatives--including the issuance of equity and debt securities when conditions are more favorable--asset sales and sale leaseback transactions, and explore other alternatives. To that effect, the board will hire independent financial advisors.
About Quebecor World
Quebecor World Inc. (TSX: IQW, NYSE: IQW) is a world leader in providing high-value, complete marketing and advertising solutions to leading retailers, catalogers, branded-goods companies, and other businesses with marketing and advertising activities, as well as complete, full-service print solutions for publishers. The company is a market leader in most of its major product categories, which include advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics, mail list technologies, and other value-added services. Quebecor World has approximately 28,000 employees working in more than 115 printing and related facilities in the United States, Canada, Argentina, Austria, Belgium, Brazil, Chile, Colombia, Finland, France, India, Mexico, Peru, Spain, Sweden, Switzerland, and the United Kingdom.
Web address: www.quebecorworld.com