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Videotron Ltd. Prices Private Offering of $600 Million Series 1 Senior Notes due 2029 and $400 Million Series 2 Senior Notes due 2034

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MONTRÉAL, June 14, 2024 /CNW/ – Videotron Ltd. (“Videotron”) today announced the pricing of its $600 million aggregate principal amount of 4.650% Series 1 Senior Notes due July 15, 2029 (the “Series 1 Notes”) and $400 million aggregate principal amount of 5.000% Series 2 Senior Notes due July 15, 2034 (the “Series 2 Notes” and, together with the Series 1 Notes, the “Notes”) (this offering, the “Offering”). The Series 1 Notes will be sold at $999.47 per $1,000 principal amount of Series 1 Notes and the Series 2 Notes will be sold at $996.75 per $1,000 principal amount of Series 2 Notes. Videotron intends to use the net proceeds of this Offering to repay existing indebtedness, which may include a portion of the revolving facility drawings under Videotron’s credit agreement and repayment of a portion of Videotron’s existing notes. The Offering is expected to close on or about June 21, 2024, subject to customary closing conditions. 

“Shortly after obtaining an investment grade rating from S&P Global Ratings and Moody’s Ratings, I am very proud to announce that Videotron has just priced its first issuance of investment grade notes”, said Pierre Karl Péladeau, President and Chief Executive Officer of Quebecor. “The great success of this transaction demonstrates the financial markets’ trust in Videotron and marks a major step in reducing its borrowing costs,” he added.

This news release shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The Notes are being offered in Canada on a private placement basis in reliance upon exemptions from the prospectus requirements under applicable securities legislation. The Notes have not been and will not be qualified for sale to the public under applicable securities laws in Canada and, accordingly, any offer and sale of the Notes in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws. The Notes and the related guarantees have not been and will not be registered under the United States Securities Act of 1933 or applicable state securities laws, and the Notes may not be offered or sold in the United States absent registration or an applicable exemption from registration. The Notes have not been and will not be qualified for sale to the public under applicable Canadian securities laws and, accordingly, any offer and sale of the Notes in Canada will be made on a basis which is exempt from the prospectus and dealer registration requirements of such securities laws.

Videotron (www.videotron.com), a wholly owned subsidiary of Quebecor Media Inc. (www.quebecor.com), is an integrated communications company engaged in television, entertainment, Internet access, wireline telephone and mobile telephone services.

Forward‑Looking Statements

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of United States federal securities legislation (collectively, “forward-looking statements”). All statements other than statements of historical facts included in this press release, including statements regarding the prospects of our industry and our prospects, plans, financial position and business strategy, may constitute forward-looking statements. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industries in which we operate as well as beliefs and assumptions made by our management. Such statements include, in particular, statements about our plans, prospects, financial position and business strategies. Words such as “may,” “will,” “expect,” “continue,” “intend,” “estimate,” “anticipate,” “plan,” “foresee,” “believe,” or “seek,” or the negatives of these terms or variations of them or similar terminology, are intended to identify such forward-looking statements. Although we believe that the expectations reflected in those forward-looking statements are reasonable, these statements, by their nature, involve risks and uncertainties and are not guarantees of future performance. Such statements are also subject to assumptions concerning, among other things: our anticipated business strategies; anticipated trends in our business; anticipated reorganizations of any of our segments or businesses, and any related restructuring provisions or impairment charges; and our ability to continue to control costs. We can give no assurance that these estimates and expectations will prove to have been correct. Actual outcomes and results may, and often do, differ from what is expressed, implied or projected in such forward-looking statements, and such differences may be material. Some important factors that could cause actual results to differ materially from those expressed in these forward-looking statements include, but are not limited to: our ability to successfully continue developing our network and facilities-based mobile services; general economic, financial or market conditions and variations in our businesses; the intensity of competitive activity in the industries in which we operate; new technologies that might change consumer behaviour toward our product suite; unanticipated higher capital spending required to develop our network or to address the continued development of competitive alternative technologies, or the inability to obtain additional capital to continue the development of our business; our ability to implement successfully our business and operating strategies and manage our growth and expansion; risks relating to the acquisition of Freedom Mobile Inc. (“Freedom”), including our ability to successfully integrate Freedom’s operations and to realize synergies, and potential unknown liabilities or costs associated with the acquisition of Freedom; the anticipated benefits and effects of the acquisition of Freedom, which may not be realized in a timely manner or at all, and ongoing operating costs and capital expenditures, which could be different than anticipated, as well as unanticipated litigation or other regulatory proceedings associated with the acquisition of Freedom, which could result in changes to the parameters of the transaction; the impacts of the significant and recurring investments that will be required in our new Freedom, Videotron mobile virtual network operator and other markets for development and expansion and to compete effectively with the incumbent local exchange carriers and other current or potential competitors in these markets, including the fact that the post acquisition our business will continue to face the same risks that we currently face, but will also face increased risks relating to new geographies and markets; disruptions to the network through which we provide our digital television, Internet access, mobile and wireline telephony and over-the-top video services, and our ability to protect such services from piracy, unauthorized access or other security breaches; labour disputes or strikes; service interruptions resulting from equipment breakdown, network failure, the threat of natural disasters, epidemics, pandemics and other public health crises and political instability in some countries;  the impact of emergency measures implemented by various levels of government; changes in our ability to obtain services and equipment critical to our operations; changes in laws and regulations, or in their interpretations, which could result, among other things, in the loss (or reduction in value) of our licenses or markets or in an increase in competition, compliance costs or capital expenditures; our substantial indebtedness, the tightening of credit markets, and the restrictions on our business imposed by the terms of our debt; and interest rate fluctuations that affect a portion of our interest payment requirements on long-term debt. We caution you that the above list of cautionary statements is not exhaustive. These and other factors could cause actual results to differ materially from our expectations expressed in the forward-looking statements included in this press release, and you are encouraged to read “Item 3. Key Information – Risk Factors” as well as statements located elsewhere in Videotron’s annual report on Form 20-F for the year ended December 31, 2023, and Videotron’s Quarterly Report under Form 6-K for the three-month period ended March 31, 2024, including Management’s Discussion and Analysis and unaudited interim condensed consolidated financial statements included therein for further details and descriptions of these and other factors. Each of these forward-looking statements speaks only as of the date of this press release. We will not update these statements unless applicable securities laws require us to do so.

SOURCE Videotron Ltd.

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Guidehouse Adds Two Leaders to Growing Health Segment

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25 minutes ago

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November 18, 2024

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Mark Korth and Angela Hunt, RN, join as partners to help healthcare organizations advance clinical and operational performance

MCLEAN, Va., Nov. 18, 2024 /PRNewswire/ — Guidehouse, a global consultancy providing advisory, digital, and managed services to the commercial and public sectors, has added two partners, Mark Korth and Angela Hunt, RN, to the firm’s Health segment.

A former health system C-suite executive, Korth will support providers with optimizing large-scale mergers and integrations, transformations, and operating model implementation. Hunt will assist providers with improving quality, clinical documentation and coding, payer contracting, and operating performance.

“We are thrilled to welcome Angela and Mark to Guidehouse,” said Tim Kinney, Guidehouse partner and Payer/Provider practice leader. “Their deep expertise and proven leadership in the healthcare industry will enhance our ability to provide innovative, patient-centered solutions that address our clients’ most pressing challenges. Angela’s and Mark’s unique perspectives will be invaluable as we continue to help healthcare leaders meaningfully serve their communities.”

Korth joins Guidehouse following a more than 25-year career leading large health systems, hospitals, and medical groups. A strategic executive with a proven ability to guide mergers, partnerships, and systemwide transformations, he has consistently advanced initiatives that improved population health and delivered sustainable margins. Korth’s experience spans large for-profit and nonprofit hospitals and health systems, having served as CEO, regional president, system chief transformation officer, and chief operating officer. 

With close to 30 years of strategic experience, Hunt brings a proven track record of leading teams through complex projects that have helped health systems and physician enterprises improve clinical and operational outcomes. Her proficiency spans data analytics, change management, clinical data management, strategic communication, and detailed outcomes improvement. This includes working with IT departments to develop analytics to better focus clinical integrity teams through benchmark opportunities in high volume MS-DRGs.

With 19 Best in KLAS® awards, Guidehouse’s Health segment serves providers, government agencies, life sciences companies, payers, and other healthcare organizations. Backed by proven success in modernizing and innovating healthcare services, finances, and operations, the firm delivers a comprehensive approach to solving interrelated industry challenges.

About Guidehouse
Guidehouse is a global consultancy providing advisory, digital, and managed services to the commercial and public sectors. Guidehouse is purpose-built to serve the national security, financial services, healthcare, energy, and infrastructure industries. Disrupting legacy consulting delivery models with its agility, capabilities, and scale, the firm delivers technology-enabled and focused solutions that position clients for innovation, resilience, and growth. With high-quality standards and a relentless pursuit of client success, Guidehouse’s more than 17,000 employees collaborate with leaders to outwit complexity and achieve transformational changes that meaningfully shape the future. guidehouse.com

Media Contact:
Guidehouse
Cecile Fradkin cfradkin@scprgroup.com  

View original content to download multimedia:https://www.prnewswire.com/news-releases/guidehouse-adds-two-leaders-to-growing-health-segment-302307957.html

SOURCE Guidehouse

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Northern Virginia: The Hidden Giant of U.S. Tech? NVTC Study Reveals World Class Talent, Investments in AI, Cybersecurity, and Cloud

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25 minutes ago

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November 18, 2024

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Survey of 82 Northern Virginia Companies Underscores Region’s Tech Opportunity and How it Is Poised for Continued Growth

MCLEAN, Va, Nov. 18, 2024 /PRNewswire-PRWeb/ — The Northern Virginia Technology Council (NVTC) today announced the findings of a groundbreaking study of top technology executives in Northern Virginia. The findings highlight the region’s position as one of the nation’s leading technology hubs, while exploring the opportunities and challenges that will shape the region’s future growth and innovation.

The study is based on a survey of 82 top technology organizations in the Northern Virginia (NOVA) region, as well as in-depth interviews with 30+ senior executives, and evaluates the region across five key dimensions: Talent, Innovation, Ecosystem, Business Attractiveness, and Proximity to the U.S. Federal Government.

“Northern Virginia is finally getting the recognition it deserves as a technology powerhouse,” said NVTC President and CEO, Jennifer Taylor. “We have the second highest tech employment of any U.S. metro area with 11.2% of the workforce, we are the largest data center market in the world with over two-times total inventory of the next largest market, and we have 2.5 times more computer science graduates than peer-tech hubs like New York, San Francisco, and Seattle. The growth opportunity in this region is clear.”

What the study found:

Talent Access, Skills Gaps: 73% of employers consider access to talent a key advantage, with 55% ranking it as the top factor defining a leading tech hub. Tech leaders noted challenging skills gaps in AI/ML (62%), Cybersecurity (43%), and Software Development (39%). The Northern Virgina region boasts the nation’s second highest net tech employment by metro area – only behind New York City — with 376K tech industry and tech occupation workers, providing a rich and diverse talent pool. In net tech employment, the region is slightly ahead of tech hubs including San Francisco, San Jose, Los Angeles, and Dallas.

Innovation Focus: GenAI, cybersecurity, and cloud computing are the top three emerging technologies that organizations are investing in for NOVA-specific operations over the next 2-3 years. 89% of NOVA tech leaders are investing in Generative AI, 83% in Cybersecurity and Digital Identity, and 61% in Cloud and Edge Computing. Early-stage tech like Space and Quantum are in the early stages of tech adoption.

Ecosystem: NOVA excels in developing growth-stage companies, ranking #1 in the number of firms that scaled up (>50 employees within 10 years) and #1 in the density of high-growth companies (>$2M revenue per 1K firms), compared to peers. Northern Virginia excels at scaling growth-stage companies, and recent surges in VC funding, start-ups, and five-year survival rates highlight its potential. However, one in three tech leaders still cite investment capital and entrepreneurial ecosystem as barriers. Leaders say more support is needed, including tech accelerators and incubators.

Business Attraction: Tech organizations are committed to Northern Virginia – 77% of surveyed organizations plan to stay in NOVA, with 29% considering expanding within the region in the next three years. NOVA boasts the nation’s largest data center market (~5x capacity of Silicon Valley). Still, executives say the high cost of living and transportation issues make it harder to attract and retain key talent.

Federal Government: Tech firms value Northern Virginia’s unique access to the federal government, prompting many major technology companies to have large offices in the region to be close to the federal government to bring IT solutions that address their mission challenges. In fact, companies in Northern Virginia received 31% of federal government’s IT contracting spend in 2023, totaling $24B. However, start-ups and niche firms face high barriers to entry due to contract procurement hurdles.

“This research confirms what many of us have long known – Northern Virginia is a powerhouse in the tech industry,” said Bruce Caswell, chair of the NVTC Board and CEO, Maximus. “Our unique combination of world-class talent, proximity to the federal government, and our focus on cutting-edge technologies like AI and cybersecurity positions us for continued growth and innovation. As we look to the future, NVTC is committed to addressing the challenges identified in this study and further strengthening our region’s tech ecosystem.”

The study, in line with NVTC’s mission, is intended to foster collaboration across the region to address challenges and drive future innovation. As Jennifer Taylor commented, “We see this as the start of an important conversation about the region and the path forward to address the challenges. We are enthusiastic about working with stakeholders across Northern Virginia – including both private sector leaders, university leaders and our public officials – to put these insights into strategic action.

Read the Study & Watch the Webinar

The full study, which provides a comprehensive analysis of Northern Virginia’s technology ecosystem, is available for download at: https://www.nvtc.org/communities/2024-northern-virginia-tech-innovation-study/

An NVTC webinar on Tuesday, November 19, 2024 will review the study findings with a panel of local technology leaders from Amazon Web Services, GDIT, Maximus and ScienceLogic. Register to join the live webinar at: https://www.nvtc.org/event/hidden-in-plain-sight-northern-virginias-rise-as-a-us-tech-giant/

Contact:
Tarin Horan
Northern Virginia Technology Council (NVTC)
thoran@nvtc.org
703.946.0319

About the Northern Virginia Technology Council:
NVTC is where the region’s tech community comes together. From bold startups to Fortune 100 giants, we represent over 470 members across sectors shaping the future of technology. NVTC drives innovation, fosters connections, and advocates for policies that fuel growth and position Northern Virginia as a global leader in technology. Through its initiatives in cybersecurity, AI, cloud computing, and beyond, NVTC empowers the tech community to shape the future. Whether it’s through policy advocacy, peer networks, or industry promotion, NVTC drives innovation that’s transforming the world. Learn more at http://www.nvtc.org

Media Contact

Tarin Horan, NVTC, 7039460319, thoran@nvtc.org, www.nvtc.org

View original content to download multimedia:https://www.prweb.com/releases/northern-virginia-the-hidden-giant-of-us-tech-nvtc-study-reveals-world-class-talent-investments-in-ai-cybersecurity-and-cloud-302308165.html

SOURCE NVTC; NVTC

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Record-Breaking Pledge to USD Will Transform University’s STEM Programs

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November 18, 2024

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SAN DIEGO, Nov. 18, 2024 /PRNewswire/ — The University of San Diego (USD) received a record-breaking pledge from Darlene Marcos Shiley, philanthropist and Chair Emerita of USD’s Board of Trustees, totaling $75 million. It’s the largest gift in university history and among the largest ever given to any Catholic university in the country. The gift will touch several different areas of USD’s campus, with a primary emphasis on creating what will be known as the ‘Shiley STEM Initiative‘, expanding innovative STEM (science, technology, engineering and math) programs, and funding new, state-of-the-art STEM facilities on USD’s campus.

“Darlene Shiley is one of the most generous and kind individuals that anyone could ever meet. She’s always looking out for humanity and the best interests of our society, and she loves our students,” said USD President James T. Harris III, DEd. “We are a better institution because of Darlene Shiley and her late husband, Donald, and what they’ve decided to do for this institution and for this world.”

The Shiley-Marcos School of Engineering and College of Arts and Sciences embody USD’s mission to shape well-rounded leaders with a liberal arts education. Both schools boast impressive alumni in STEM, including two NASA astronauts. This gift will build upon USD’s commitment to STEM, meet the needs of growing biotechnology and scientific sectors in San Diego, and help train future STEM leaders and researchers.

“STEM fields touch all different aspects of our lives, and I believe they can be a force for good in our society,” Shiley said. “I was drawn to USD because of its emphasis on a values-based education. This gift fulfills my husband’s and my goals and makes me feel like I’ve made an impact. Now I hope it helps future students take what they learn at USD and make a positive impact of their own.”

Shiley’s gift comes at a key time for USD, where the number of students majoring in STEM disciplines has grown by 50 percent in the past decade. This gift will help expand USD’s STEM offerings by establishing a new integrated STEM space that connects engineering and the natural sciences, as well as expanded opportunities for undergraduate students to participate in research.

The pledge will also be directed to scholarships and programs benefiting veterans and military-connected students, as well as additional funding for USD’s top-ranked MFA in acting, The Old Globe and USD Shiley Graduate Theatre Program.

View original content to download multimedia:https://www.prnewswire.com/news-releases/record-breaking-pledge-to-usd-will-transform-universitys-stem-programs-302307922.html

SOURCE University of San Diego

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