HALIFAX, April 20 /CNW/ - Bell Aliant Inc. ("Bell Aliant") (TSX: BA) is pleased to announce that Bell Aliant Regional Communications, Limited Partnership ("Bell Aliant LP") has agreed to sell, on an agency basis, an aggregate of $300 million principal amount of medium term notes (the "Notes") to mature on April 26, 2018. The Notes will be issued at a discount and carry a coupon of 4.88 per cent.
The issue is scheduled to close on April 26, 2011. On behalf of the Agents' syndicate, CIBC World Markets Inc., National Bank Financial Inc. and RBC Dominion Securities Inc. will act as co-lead managers and joint bookrunners for the offering. All or substantially all of the net proceeds from the issuance of the Notes are intended to be used to make a partial redemption of the 4.72 per cent medium term notes due September 26, 2011 (the "2011 Notes") and any remaining proceeds will be used for general corporate purposes.
The issue is being made pursuant to Bell Aliant LP's short form base shelf prospectus dated April 28, 2009, as amended by an amendment thereto dated April 12, 2011.
This news release contains forward-looking statements concerning future events and expectations, specifically relating to the planned use of the proceeds from the Notes issuance.These statements describe management's expectations at April 20, 2011.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 the annual management's discussion and analysis of each of Bell Aliant Regional Communications Income Fund and Bell Aliant Regional Communications Holdings, Limited Partnership for the year ended December 31, 2010, 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 use of proceeds from issuance of the Notes is also subject to the satisfaction of all requirements to enable a partial redemption of the 2011 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 Inc. (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(TM) 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 of customer service, choice and convenience. More information can be found at www.bellaliant.ca.
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