UPDATE 1-Quebecor World fails to obtain new financing

(Adds details, background. Amounts in U.S. dollars unless noted)

MONTREAL, Jan 15 (Reuters) - Quebecor World Inc's IQW.TO liquidity troubles deepened on Tuesday as the big commercial printer said it failed to obtain $125 million of new financing required under waivers from its banking syndicate and missed a debt payment on $400 million of notes.

The Canadian company, which is working on getting bank approval for C$400 million of rescue financing from its parent, media group Quebecor Inc (QBRa.TO), and a private equity fund managed by Brookfield Asset Management (BAMa.TO), said it did not make the $19.5 million payment of interest that was due on Monday on its $400 million 9.75 percent senior notes due 2015.

The company said the failure to obtain the $125 million of new financing or make the interest payment on the notes does not result in an immediate default on its debt.

Quebecor World said it requested a one week waiver of the requirement to obtain $125 million of new financing, but had refused to pay the waiver costs demanded by the banking syndicate as it was trying to preserve cash. The company added that it was waiting for a response from the banking syndicate on its request for lower waiver fees.

Quebecor World shares fell 42 percent to a new low of 45 Canadian cents, before closing at 47 Canadian cents on the Toronto Stock Exchange on Tuesday.

Analysts have said there are concerns that the company may be forced to seek court protection from its creditors.

The stock was at a year high of C$17.25 in February, but the company's fortunes quickly faded as the sale of its European printing assets collapsed and it failed to complete the issue of a debt-and-equity package aimed at easing its $2.3 billion debt burden.

($1=$1.01 Canadian) (Reporting by Robert Melnbardis; editing by Carol Bishopric)