Banks May Be Pressuring Quebecor World
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MONTREAL—Quebecor World received conditional waivers from its lenders, amid speculation that Canadian bankers are leaning on parent company Quebecor Inc. to bail the printer out.
According to a Canadian Press report, Quebecor World must generate C$125 million in liquidity by January 15 and deliver a refinancing transaction, with commitments to satisfy lenders by the end of this month.
A viable alternative could be for Quebecor Inc. to provide the funds or co-sign a loan to keep Quebecor World in business.