MONTREAL, Sept. 5, 2013 /PRNewswire/ - Bell Canada (Bell) today announced the public offering of Cdn $1 billion of MTN Debentures in two series pursuant to its medium term notes (MTN) program.
The $400 million 3.50% MTN Debentures, Series M-28, will be dated September 10, 2013, will mature on September 10, 2018, and will be issued at a price of Cdn $99.941per $100 principal amount for a yield to the investor of 3.513% per annum compounded semi-annually. The $600 million 4.70% MTN Debentures, Series M-29, will be dated September 10, 2013, will mature on September 11, 2023 and will be issued at a price of Cdn $99.897 per $100 principal amount for a yield to the investor of 4.713% per annum compounded semi-annually. The MTN Debentures will be fully and unconditionally guaranteed by BCE Inc. (TSX, NYSE: BCE).
The net proceeds of this offering will be used by Bell Canada to finance the redemption, on August 9, 2013, of all of Bell Canada's $1,000,000,000 principal amount of 4.85% Debentures, Series M-20, due June 30, 2014, which was financed on an interim basis by short term borrowings.
The MTN Debentures are being publicly offered in all provinces of Canada and to institutional investors in the United States that qualify for applicable state registration exemptions through a syndicate of agents. Closing of the offering of the MTN Debentures is expected to occur on September 10, 2013.There shall be no offer, solicitation or sale of securities of Bell in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
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