TVA Group Inc. completes C$110m Rights Offering

March 20, 2015

Client: TVA Group Inc.

On March 20, 2015, TVA Group Inc. (TVA) completed a rights offering pursuant to which rights were issued to all holders of its outstanding Class A common shares, voting, participating, without par value and Class B shares, non-voting, participating, without par value (Class B Non-Voting Shares) to subscribe for an aggregate of 19,434,629 Class B Non-Voting Shares, which generated gross proceeds of $110 million. Quebecor Media Inc. (QMI) provided a standby commitment pursuant to which it agreed to purchase all Class B Non-Voting Shares not otherwise acquired under the rights offering by holders of rights. TVA used the gross proceeds from the rights offering to repay all amounts outstanding under a $100 million bridge loan provided by QMI and to pay all offering-related fees and expenses, including the standby commitment fee payable to QMI.

TVA was represented by Norton Rose Fulbright Canada LLP with a team comprised of Paul Raymond, David Millette, Amélie Métivier, Emmanuel Grondin and Renée Loiselle (Corporate and securities) and Jules Charette and Antoine Desroches (Tax).