CORRECTION FROM SOURCE: Sun Media Corporation Executes Long-Term Financing.Business Editors TORONTO--(BUSINESS WIRE)--Jan. 31, 2003 Sun Media Corporation ("Sun Media" or the "Company") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :QBR QBR Quarterly Business Review QBR Quality Billing Report QBR Quarterly Billing Report .A) (TSX:QBR.B) announced today that it has settled the terms for a private placement of US$205.0 million aggregate principal amount of 7-5/8% Senior Notes due 2013 (the "Senior Notes"). The offering is scheduled to close on February 7, 2003. The Senior Notes will be sold at a discount to their face amount, which will yield net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of approximately US$201.5 million. The Senior Notes are being offered in accordance with Rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Senior Notes have not been and will not be registered under the Securities Act and may not be offered or sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. absent registration under the Securities Act or an applicable exemption from registration requirements. Forward-looking statements Except for historical information contained herein, certain statements in this document may constitute forward-looking statements made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties that could cause the Company's actual results to differ materially from those set forth in the forward-looking statements. These risks include changes in customer demand for the Company's products, changes in raw material and equipment costs and availability, seasonal fluctuations in customer orders, pricing actions by competitors, and general changes in the economic environment. |
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