Quebecor World Amends Credit Facilities

Quebecor World Inc. and Quebecor World (USA) Inc., the borrowers, amended and restructured their existing credit facilities totalling US$1 billion, on November 7, 2003. Royal Bank of Canada acted as administrative agent of the syndicated cross-border financing granted by a syndicate of Canadian, US and foreign banks.

The borrowers were represented in Canada by Ogilvy Renault, with a team that included Christian Sioufi and Catherine Mateu (banking) and Jules Charette (tax) in Montreal; and assisted in the US by Arnold & Porter in New York, with a team that included John Willett and Lily Lu, and Richard Andersen and Mayrav Teller (tax). The syndicate of lenders was represented by Stikeman Elliott LLP in Montreal, with a team that included Jean Lamothe and Caroline Boutin (banking) and Roanne Bratz and Derek Chiasson (tax).