Quebecor World emerges from Chapter 11 and CCAA Protection

Date Closed

July 21, 2009

Lead Office

Toronto

Value

800.00 Million USD

On July 21, 2009, Quebecor World Inc. (now known as World Color Press Inc.) and 53 of its subsidiaries successfully restructured in excess of $2.8 billion US of liabilities and emerged from protection under the Companies’ Creditors Arrangement Act and Chapter 11 of the U.S. Bankruptcy Code pursuant to Plans of Reorganization approved by creditors and courts in both countries. As part of the implementation of the Plan, the Company's previously issued equity was effectively cancelled and the reorganized Company has now issued Common Shares, Class A Convertible Preference Shares and Series 1 and Series 2 Warrants. Exit financing facilities in the amount of $800 million US were arranged by Credit Suisse, GE Capital and Wells Fargo.

McCarthy Tétrault LLP advised GE Capital, the arranger, with a team led by Richard Higa.

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