IF OBJECT_ID('dbo.sp_PrintString', 'P') IS NULL
    EXEC ('CREATE PROCEDURE dbo.sp_PrintString AS SELECT 1');
GO

ALTER PROCEDURE dbo.sp_PrintString(
                @str NVARCHAR(MAX)
)
AS
/*
DECLARE @longStr NVARCHAR(MAX) = REPLICATE(N'R', 5000) + CAST(CHAR(13) AS NVARCHAR(MAX)) + REPLICATE(N'Я', 5000) + CAST(CHAR(13) + N'ё' AS NVARCHAR(MAX));
PRINT('Microsoft PRINT with string truncating:');
PRINT(@longStr);
PRINT('Right PRINT using dbo.sp_PrintString without string truncating:');
EXEC dbo.sp_PrintString @str = @longStr;
*/
BEGIN
    DECLARE @line          NVARCHAR(MAX)
          , @startLocation INT
          , @length        INT
          , @totalLength   INT
          , @current       INT;

    SELECT @startLocation = 1
        ,@totalLength = DATALENGTH(@str)
        ,@current = 1
        ,@length = 0

    DECLARE @PrintLine NVARCHAR(MAX) = 
            N'DECLARE @pos int = 1
            WHILE @pos <= LEN(@line)
            BEGIN
                PRINT SUBSTRING(@line, @pos, 4000);
                SET @pos = @pos + 4000;
            END;'

    WHILE @current <= @totalLength
    BEGIN
        IF (
                SUBSTRING(@str, @current, 2) IN (
                    CHAR(0x0D) + CHAR(0x0A)
                    ,CHAR(0x0A) + CHAR(0x0D)
                    )
                )
        BEGIN
            IF @length <= 0
                PRINT '';
            ELSE
            BEGIN -- line
                SELECT @line = SUBSTRING(@str, @startLocation, @length);

                EXEC sp_executesql @PrintLine
                    ,N'@line NVARCHAR(max)'
                    ,@line;
            END

            SELECT @startLocation = @current + 2
                 , @current = @current + 2
                 , @length = 0;

            CONTINUE;
        END
        ELSE IF (
                SUBSTRING(@str, @current, 1) IN (
                    CHAR(0x0D)
                    ,CHAR(0x0A)
                    )
                )
        BEGIN
            IF @length <= 0
                PRINT '';
            ELSE
            BEGIN
                SELECT @line = SUBSTRING(@str, @startLocation, @length);

                EXEC sp_executesql @PrintLine
                    ,N'@line NVARCHAR(max)'
                    ,@line;
            END

            SELECT @startLocation = @current + 1
                ,@current = @current + 1
                ,@length = 0;

            CONTINUE;
        END

        SELECT @current = @current + 1
             , @length  = @length  + 1;
    END

    IF (@startLocation <= DATALENGTH(@str))
        PRINT SUBSTRING(@str, @startLocation, DATALENGTH(@str));
END;
GO