Quebecor World Exits Bankruptcy Protection

MONTREAL—Freedom, despite what its name implies, most certainly comes at a stiff price. But Quebecor World can now be marked down as paid in full...and free.
Quebecor World, its affiliated debtors and debtors-in-possession have successfully emerged from bankruptcy protection under Chapter 11 of the U.S. bankruptcy code and the Companies’ Creditors Arrangement Act (CCAA) in Canada. This completes its reorganizational plans and financial restructuring, including successfully closing $800 million in exit financing facilities. At closing, Quebecor World drew about $540 million, with which it has repaid in full its debtor-in-possession credit facility.