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BCE Inc's Bell Canada Renews MTN Program And Announces Offering Of MTN Debentures

Wednesday, 12 Jun 2013 06:59pm EDT 

BCE Inc's Bell Canada (Bell) 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 CAD1 billion of MTN debentures. The filing of the prospectus supplement was made to renew Bell's MTN program and enables Bell to offer up to CAD4 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. 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 is proceeding with a public offering of CAD1 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 CAD99.925 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. 

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30 Mar 2015