Quebecor World Inc - Report of Foreign Issuer (6-K)
20 November 2007 - 4:01PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 or 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2007
Commission File Number :
1-14118
QUEBECOR WORLD INC.
(Translation of Registrants Name into English)
612 Saint-Jacques Street, Montreal, Quebec H3C 4M8
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F or Form 40-F
Form 20-F
o
Form 40-F
þ
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101 (b)(1):
o
Note:
Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted
solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Fork 6-K in paper as permitted by
Regulation S-T Rule 101 (b) (7):
o
Note:
Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted
to furnish a report or other document that the registrant foreign private issuer must furnish and
make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled
or legally organized (the registrants home country), or under the rules of the home country
exchange on which the registrants securities are traded, as long as the report or other document
is not a press release, is not required to be and has not been distributed to the registrants
security holders, and, if discussing a material event, has already been the subject of a Form 6-K
submission or other filing on EDGAR.
Indicate by check mark whether the registrant by furnishing the information contained in this form
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934. Yes
o
No
þ
If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82-
.
QUEBECOR WORLD INC.
Filed in this Form 6-K
Document index
1. Press Release dated November 13, 2007; Refinancing Plan
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November 13, 2007
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30/07
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For immediate release
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Page 1 of 4
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QUEBECOR WORLD ANNOUNCES REFINANCING PLAN
Montréal, Canada
Quebecor World Inc. (TSX: IQW, NYSE: IQW) (the Company) announced a
refinancing plan today pursuant to which it intends to concurrently:
(i)
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offer approximately Cdn$250 million of its equity shares, consisting of a public offering of
Subordinate Voting Shares in Canada and the United States for contemplated gross proceeds to
the Company of approximately Cdn$185 million ($191 million) (or approximately Cdn$213 million
($220 million) if an over-allotment option granted to the underwriters involved is exercised
in full) (the Public Equity Offering); as well as an issuance on a private placement basis
in Canada to Quebecor Inc., the Companys controlling shareholder, of a combination of
Multiple Voting Shares and Subordinate Voting Shares for an aggregate amount of approximately
Cdn$65 million ($67 million) on the same terms as the Public Equity Offering (together with
the Public Equity Offering, the Equity Offering), in order to allow Quebecor Inc. to
maintain the level of its current economic interest in Quebecor World;
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(ii)
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offer on a private placement basis an aggregate of $500 million of new debt securities,
consisting of (1) new senior unsecured notes of the Company (the Senior Notes) in an
aggregate amount of approximately $400 million (the Senior Note Offering), and (2) new
senior unsecured convertible debentures (the Convertible Debentures) in an aggregate amount
of approximately $100 million (the Convertible Debenture Offering); and
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(iii)
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amend the Companys credit facilities, pursuant to which (a) the commitment of the Companys
syndicate of lenders would be reduced to $375 million, (b) the maturities of such facilities
would be extended by one year to January 2010 and (c) the Company would be provided with
greater financial flexibility under its covenants (the Credit Facilities Amendment). The
Equity Offering, the Senior Note Offering and the Convertible Debenture Offering are
conditional upon one another and the Credit Facilities Amendment is conditional on the
completion of the Equity Offering, the Senior Note Offering and the Convertible Debenture
Offering.
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In connection with the Public Equity Offering, the Company has filed a preliminary short form
prospectus with the securities regulatory authorities in each of the provinces of Canada and a
registration statement with the Securities and Exchange Commission.
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For immediate release
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Page 2 of 4
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The net proceeds of the Senior Note Offering and the Convertible Debenture Offering and a portion
of the net proceeds of the Equity Offering will be used to repay indebtedness under the Companys
credit facilities and the Company intends to use the remaining net proceeds of the Equity Offering
to redeem its Series 5 Cumulative Redeemable First Preferred Shares for an aggregate redemption
price of Cdn$175 million (approximately $185 million) plus accrued and unpaid dividends. The
redemption of these preferred shares is conditional upon the completion of each of the elements of
the refinancing plan and subject to re-confirmation by the Companys Board of Directors. Any
remaining net proceeds of the Equity Offering will be used for general corporate purposes,
including for the repayment of additional indebtedness.
The terms of both the new Senior Notes and the Convertible Debentures will be settled between the
Company and the respective initial purchasers of the notes. Both the Senior Notes and the
Convertible Debentures will be issued by the Company and will be unconditionally guaranteed on a
senior unsecured basis by Quebecor World (USA) Inc., Quebecor World Capital ULC and Quebecor World
Capital LLC, all wholly-owned subsidiaries of the Company.
In addition, the Company announces that it has re-filed its interim financial statements for the
period ended September 30, 2007 as well as the corresponding managements discussion and analysis,
in order to make certain changes to Note 18 Subsequent Events to such financial statements
relating to the Companys announced sale/merger of its European operation, including to correct
the amount reported for the estimated accounting (non-cash) loss on disposal before cumulative
translation adjustment impact resulting from such sale/merger, from $70 million to $170 million.
While a registration statement relating to the Equity Offering has been filed with the U.S.
Securities and Exchange Commission, it has not yet become effective. These securities may not be
sold nor may offers to buy be accepted prior to the time the registration statement becomes
effective.
A copy of the prospectus may be obtained from the Companys Investor Relations Department, at 612
St-Jacques Street, Montreal, Quebec Canada H3C 4M8, tel. 800-567-7070.
Neither the Senior Notes nor the Convertible Debentures have been nor will they be registered at
this time under the United States Securities Act or applicable state securities laws, and neither
the Senior Notes nor the Convertible Debentures may be offered or sold in the United States absent
registration or an applicable exemption from registration. The Senior Notes and the Convertible
Debentures will be offered and sold to qualified institutional buyers pursuant to Rule 144A under
the United States Securities Act, as amended, and outside the United States pursuant to Regulation
S under the United States Securities Act. Neither the Senior Notes nor the Convertible Debentures
have been nor will they be qualified for sale to the public under applicable Canadian securities
laws and, accordingly, any offer and sale of the notes in Canada will be made on a basis which is
exempt from the prospectus and dealer registration requirements of such securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any
securities in the United States and shall not constitute an offer to sell or the solicitation of
any offer to buy any securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful.
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For immediate release
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Page 3 of 4
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Forward looking statements
This press release may include forward-looking statements that involve risks and uncertainties.
All statements other than statements of historical facts included in this press release, including
statements regarding the prospects of the industry and prospects, plans, financial position and
business strategy of the Company, may constitute forward-looking statements within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities legislation and
regulations. Forward-looking statements generally can be identified by the use of forward-looking
terminology such as may, will, expect, intend, estimate, anticipate, plan, foresee,
believe or continue or the negatives of these terms or variations of them or similar
terminology. Although the Company believes that the expectations reflected in these forward-looking
statements are reasonable, it can give no assurance that these expectations will prove to have been
correct. Forward-looking statements do not take into account the effect that transactions or
non-recurring or other special items announced or occurring after the statements are made have on
the Companys business. For example, they do not include the effect of dispositions, acquisitions,
other business transactions, asset writedowns or other charges announced or occurring after
forward-looking statements are made.
Investors and others are cautioned that undue reliance should not be placed on any forward-looking
statements. For more information on the risks, uncertainties and assumptions that could cause the
Companys actual results to differ from current expectations, please refer to the Companys public
filings available at www.sedar.com, www.sec.gov and www.quebecorworld.com.
In particular, further details and descriptions of these and other factors are disclosed in the
Risks and Uncertainties related to the Companys business section of the Companys Managements
Discussion and Analysis for the year ended December 31, 2006, and the Risk Factors section of
the Companys Annual Information Form for the year ended December 31, 2006.
The forward-looking statements in this press release reflect the Companys expectations as of
November 13, 2007 and are subject to change after this date. The Company expressly disclaims any
obligation or intention to update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise, unless required by the applicable securities laws.
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.
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For immediate release
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Page 4 of 4
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For further information contact:
Tony Ross
Vice President, Communications
Quebecor World Inc.
(514) 877-5317
(800) 567-7070
Roland Ribotti
Vice President, Investor Relations
and Assistant Treasurer
Quebecor World Inc.
(514) 877-5143
(800) 567-7070
TABLE OF CONTENTS
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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QUEBECOR WORLD INC.
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By:
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/s/ Marie-É. Chlumecky
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Name:
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Marie-É. Chlumecky
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Title:
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Assistant Corporate Secretary
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Date: November 20, 2007
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