Quebecor World Closes Magog; Signs Contracts

On the plus side, it received final approval for US$1 billion debtor-in-possession (DIP) financing. The financing is comprised of a term loan of $600 million and a revolving loan facility of $400 million.

In other company news, Quebecor World has been awarded a new contract with The McGraw-Hill Companies extending into 2014. The new agreement is valued at approximately US$285 million over its term and covers a wide range of educational textbooks, ancillary products, professional learning tools and catalogs.