MONTREAL, June 13, 2012 /PRNewswire/ - Bell Canada (Bell) today announced the reinstatement of its Cdn $3-billion Medium Term Notes (MTN) program and the public offering of Cdn $1 billion of MTN debentures fully and unconditionally guaranteed by BCE Inc. (TSX, NYSE: BCE).
Bell filed with the securities regulatory authorities, in all the provinces of Canada as well as with the U.S. Securities and Exchange Commission (SEC), a prospectus supplement to a short form base shelf prospectus dated August 15, 2011. This filing was made to reinstate Bell's MTN program and enables Bell to offer up to Cdn $3 billion of MTN Debentures from time to time until September 2013, providing Bell with financial flexibility and efficient access to Canadian and U.S. capital markets.
Bell also entered into a dealer agreement with certain dealers, under which the dealers have agreed to act as agents, principals or underwriters with respect to future offerings of MTN Debentures.
Public offering of Cdn $1 billion of MTN Debentures Bell is proceeding with a public offering of Cdn $1 billion of MTN Debentures pursuant to its MTN program.The Cdn $1 billion 3.35% MTN Debentures, Series M-25, will mature on June 18, 2019 and will be issued at a price of Cdn $99.839 per $100 principal amount for a yield to the investor of 3.376% per annum compounded semi-annually. The net proceeds of the offering are intended to be used for general corporate purposes, including the repayment of outstanding commercial paper, and funding a portion of the cost of BCE's acquisition of Astral Media Inc. (Astral), which is expected to close in the second half of 2012.
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