HALIFAX, June 19, 2013 /CNW/ - Bell Aliant Regional Communications,
Limited Partnership ("Bell Aliant LP") announced on June 14, 2013 that
it would redeem the 4.95 per cent medium term notes due February 26,
2014 (the "2014 Notes") on June 25, 2013 (the "Redemption Date").
Today, Bell Aliant LP has determined the redemption price according to
the method and process outlined in the trust indenture for the 2014
The redemption price is equal to the greater of the Canada Yield Price
and the principal amount of the 2014 Notes, together with accrued and
unpaid interest to but excluding the Redemption Date. The Canada Yield
Price is a price equal to the price of the 2014 Notes calculated to
provide a yield to maturity equal to the Government of Canada Yield
plus 0.22 per cent determined today, the third business day prior to
the Redemption Date. The Government of Canada Yield is the yield to
maturity, compounded semi-annually, which a non-callable Government of
Canada Bond would carry if issued, in Canadian dollars in Canada, at
100 per cent of its principal amount with a term to maturity equal to
the remaining term to maturity of the 2014 Notes. The Government of
Canada Yield used to calculate the redemption price of the 2014 Notes
is the average of the rates calculated by two registered Canadian
investment dealers selected by Bell Aliant LP.
The following is the redemption price per C$1,000 of the principal
amount of the 2014 Notes:
Average Government of Canada Yield:
Canada Yield Price:
Accrued and unpaid interest to June 25, 2013:
Total Redemption Price:
This news release contains forward-looking statements concerning future
events and expectations, specifically relating to the planned
redemption of the outstanding 2014 Notes. These statements describe
management's expectations at June 19, 2013. These statements are based
on management's beliefs regarding future events, and are subject to
risks and uncertainties that are beyond management's control.
Therefore, actual events may differ materially from what is predicted.
Assumptions made and risk factors considered in preparing our
forward-looking statements are discussed in detail in Bell Aliant Inc.
and Bell Aliant Regional Communications Inc.'s 2012 annual management's
discussion and analysis (MD&A) as well as in Bell Aliant Inc.'s and
Bell Aliant Regional Communications Inc.'s annual information forms,
which are available at www.bellaliant.ca or at www.sedar.com. The planned redemption of the outstanding 2014 Notes is subject to the
satisfaction of all requirements to enable a redemption of the 2014
Notes. All forward-looking statements in this news release are
qualified by these cautionary statements, and there can be no assurance
that the results or events predicted will be realized. Except as may be
required by Canadian securities laws, Bell Aliant disclaims any
intention and assumes no obligation to update or revise any
forward-looking statement even if new information becomes available, as
a result of future events or for any other reason. Readers should not
place undue reliance on any forward-looking statements.
About Bell Aliant
Bell Aliant (TSX: BA) is one of North America's largest regional
communications providers and the first company in Canada to cover an
entire city with fibre-to-the-home (FTTH) technology with its FibreOP services. Through its operating entities it serves customers in six
Canadian provinces with innovative information, communication and
technology services including voice, data, Internet, video and
value-added business solutions. Bell Aliant's employees deliver the
highest quality customer service, choice and convenience.
SOURCE: Bell Aliant Inc.
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