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 Notes.
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:||1.072%|
|Canada Yield Price:||C $1,024.350|
|Accrued and unpaid interest to June 25, 2013:||C $16.138|
|Total Redemption Price:||C $1,040.488|
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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