C$200 Million in 10-Year Notes
Stock Symbol: MBT
WINNIPEG, Dec. 9 /CNW/ - Manitoba Telecom Services Inc. (TSX: MBT), which includes its principal operating subsidiary, MTS Allstream Inc. (the "Company" or "MTS Allstream") one of Canada's leading national communications companies, announced today that it has successfully issued $200 million in medium term notes with a 10 year term maturing on December 16, 2019, and a coupon of 5.625%.
"This medium term notes issuance is further evidence of the strength of our financial profile," said Pierre Blouin, Chief Executive Officer, MTS Allstream. "Through 2009 MTS Allstream has benefitted from industry-leading performance in its Consumer Markets division, its exposure to the resilient provincial economy in Manitoba, and the strong performance of our growth products including wireless, high-speed Internet, television and converged-IP which are key to our long-term success. Our ongoing ability to access capital markets speaks to the stability of our business and our cash flows as well as our ongoing success in reducing costs and maintaining a strong balance sheet."
The net proceeds from the issuance of the medium term notes will be used for general corporate purposes, including pre-funding the deployment of an HSPA wireless network in Manitoba and terming out short-term debt.
The medium term notes are issued pursuant to the Company's short form base shelf prospectus dated October 16, 2009.
About MTS Allstream
As one of Canada's leading national communication solutions companies, MTS Allstream provides innovative communications for the way Canadians want to live and work today. The Company has more than 100 years of experience, with 6,000 employees across Canada dedicated to a mission of delivering true value as seen through the eyes of our customers. In 2008, MTS Allstream had nearly two million total customer connections spanning business customers across Canada and residential consumers throughout the province of Manitoba. The Company's extensive national broadband and fibre optic network spans almost 30,000 kilometres. MTS Allstream is a proud sponsor of Cindy Klassen, 2006 World Champion and Canada's greatest Olympian, and a proud contributor to the Canadian Museum for Human Rights. Manitoba Telecom Services Inc.'s common shares are listed on The Toronto Stock Exchange (trading symbol: MBT). Customers, stakeholders and investors who want to learn more about MTS Allstream services, markets, community commitments and record of creating shareholder value are encouraged to visit: www.mtsallstream.com.
Forward-looking Statements Disclaimer
This news release includes forward-looking statements and information (collectively, the "statements") that are subject to risks, uncertainties and assumptions. As a consequence, actual results in the future may differ materially from any such forward-looking statements. Forward-looking statements reflect our expectations as at December 9, 2009. Except as required by law, we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The agreements giving rise to the matters described in this news release are subject to significant conditions, many of which are entirely outside of our Company's control or may not otherwise be satisfied.
Additional information relating to our Company, including our Annual Information Form, is available on SEDAR at www.sedar.com.
SOURCE MTS Allstream
For further information: For further information: Media: Greg Burch, MTS Allstream Corporate Communications, (204) 941-8576, (416) 345-3576, firstname.lastname@example.org; Investors: Paul Peters, MTS Allstream Investor Relations, (204) 941-6178, email@example.com