MONTREAL, May 16 /CNW Telbec/ - Bell Canada today announced the public
offering of Cdn $1 billion of Medium Term Debentures (MTN Debentures)
in two series pursuant to its medium term debenture program.
The $500 million 3.65% MTN Debentures, Series M-23, will be dated May
19, 2011, will mature on May 19, 2016 and will be issued at a price of
Cdn $99.928 per $100 principal amount for a yield to the investor of
3.666% per annum compounded semi-annually. The $500 million 4.95% MTN
Debentures, Series M-24, will be dated May 19, 2011, will mature on May
19, 2021 and will be issued at a price of Cdn $99.634 per $100
principal amount for a yield to the investor of 4.997% per annum
compounded semi-annually. The MTN Debentures will be fully and
unconditionally guaranteed by Bell Canada's parent, BCE Inc.
The net proceeds of this offering will be used for general corporate
purposes, including to refinance existing debt.
The MTN Debentures are being offered in all provinces of Canada through
a syndicate of agents. Closing of the offering is expected to occur on
May 19, 2011. Bell Canada will file a pricing supplement relating to
this issue with the various securities regulatory authorities in all
provinces of Canada.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities within the United
States, and there shall be no offer, solicitation or sale of securities
of Bell Canada in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful. The securities mentioned in
this news release have not been and will not be registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent registration or an applicable exemption
from the registration requirements of such Act.
Caution Concerning Forward-Looking Statements
This news release contains forward-looking statements relating to the
completion of the proposed sale of MTN Debentures and the use of the
net proceeds of such sale. Such forward-looking statements are subject
to important risks, uncertainties and assumptions, and accordingly the
results or events predicted in these forward-looking statements may
differ materially from actual results or events. The timing and
completion of the proposed sale of the MTN Debentures is subject to
customary closing conditions and other risks and uncertainties. As a
result, we cannot guarantee that any forward-looking statement will
materialize. The forward-looking statements contained in this news
release are made as of the date of this news release and, accordingly,
are subject to change after such date. Except as may be required by
Canadian securities laws, we do not undertake any obligation to update
or revise any forward-looking statement contained in this news release
whether as a result of new information, future events or otherwise.
Bell is Canada's largest communications company, providing consumers and
business with solutions to all their communications needs: Bell
Mobility wireless, high-speed Bell Internet, Bell Satellite TV and Bell
Fibe TV, Bell Home Phone local and long distance, and Bell Business
Markets IP-broadband and information and communications technology
(ICT) services. Bell Media is Canada's premier multimedia company with
leading assets in television, radio and digital media, including CTV,
Canada's #1 television network, and the country's most-watched
The Bell Mental Health Initiative is a multi-year charitable program
that promotes mental health across Canada via the Bell Let's Talk
anti-stigma campaign and support for community care, research and
workplace best practices. To learn more, please visit www.bell.ca/letstalk.
Bell is wholly owned by BCE Inc. BCE shares are listed in Canada and the
United States. For BCE corporate information, please visit www.bce.ca. For Bell product and service information, please visit www.bell.ca. For Bell Media, please visit www.bellmedia.ca.
SOURCE BELL CANADA
For further information:
Bell Media Relations
BCE Investor Relations