(OTTAWA) – August 4, 2009 - Export Development Canada (EDC) today announced that it provided CAD 25 million in financing towards a revolving credit facility for Montreal-based Transcontinental Inc. (Transcontinental).
“As one of the largest printers in North America and an established exporter, EDC was happy to add capacity to Transcontinental’s facility as the credit crunch continues to constrain the private sector lenders,” said Stephen Poloz, Senior Vice-President, Financing Products Group.
EDC participated in the facility with six other private sector lenders. This transaction was facilitated under EDC’s temporary two-year broadening of its mandate to undertake domestic financing and insurance. EDC’s domestic powers were enacted on March 12, 2009.
Transcontinental provides printing, publishing and marketing services that deliver exceptional value to its clients along with a unique, integrated platform for them to reach and retain their target audiences. Transcontinental is the largest printer in Canada and the sixth largest in North America. It is also Canada’s leading publisher of consumer magazines and French-language educational resources as well as the country’s second-largest community newspaper publisher. Transcontinental’s digital platform delivers unique content through more than 120 websites. Its Marketing Communications Sector provides advertising services and marketing products using new communications platforms supported by database analytics, premedia, email marketing, and custom communications. Transcontinental is a growing company with a culture of continuous improvement and financial discipline, whose values, including respect, innovation and integrity, are central to its operation.
Transcontinental (TSX: TCL.A, TCL.B) employs approximately 13,500 employees in Canada, the United States and Mexico, and reported revenues of $2.4 billion in 2008. For more information about the Corporation, please visit www.transcontinental.com.
EDC is Canada’s export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC’s knowledge and partnerships are used by more than 8,300 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining, is a recognized leader in financial reporting and economic analysis, and has been recognized as one of Canada’s Top 100 Employers for eight consecutive years.
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Media contacts:
Phil Taylor
Export Development Canada
Tel: (613) 598-2904
Blackberry: ptaylor@edc.ca
Maxim Labrie
Media Relations
Transcontinental Inc.
Telephone: 514 954-4176
maxim.labrie@transcontinental.ca
Jennifer F. McCaughey
Director, Investor Relations
Transcontinental Inc.
Telephone: 514 954 2821
jennifer.mccaughey@transcontinental.ca
