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Bell Renews MTN Program And Announces Offering Of MTN Debentures

Stocks in this article: BCE

MONTRÉAL, June 12, 2013 /PRNewswire/ - Bell Canada (Bell) today announced the filing of a prospectus supplement to a short form base shelf prospectus dated May 17, 2013 with the various securities regulatory authorities in all the provinces of Canada and with the Securities and Exchange Commission (SEC) in the United States and the public offering of Cdn $1 billion of MTN debentures.

Renewal of MTN Program The filing of the prospectus supplement was made to renew Bell's MTN program and enables Bell to offer up to Cdn $4 billion of MTN Debentures from time to time over a 25-month period. The MTN Debentures will be fully and unconditionally guaranteed by BCE Inc. (TSX, NYSE: BCE). Consistent with past practice, the MTN program was renewed so as to continue to provide Bell with financial flexibility and efficient access to the Canadian and U.S. capital markets.

Bell also entered into an agreement with certain dealers under which the dealers have agreed to act as agents, principals or underwriters with respect to the future offering of the 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 3.25% MTN Debentures, Series M-27, will be dated June 17, 2013, will mature on June 17, 2020 and will be issued at a price of Cdn $99.925 per $100 principal amount for a yield to the investor of 3.262% per annum compounded semi-annually.

The net proceeds of the offering are intended to be used for general corporate purposes, including the repayment of short-term debt, and funding a portion of the cost of BCE Inc.'s proposed acquisition of Astral Media Inc. (Astral), which is expected to close in early summer pending approval by the Canadian Radio-television and Telecommunications Commission (CRTC).

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