Series M-57: Reopening of 5.85% MTN Debentures
Bell Canada, a leading telecommunications company, revealed today its plans for a public offering of Cdn $1.0 billion in MTN Debentures as part of its medium-term notes (MTN) program. This move is set to create promising investment opportunities for interested parties.
Series M-57 Debentures Details
The Series M-57 comprises Cdn $300 million worth of 5.85% MTN Debentures. These securities, issued in continuation of an existing series, will bear a November 14, 2023, date and will reach maturity on November 10, 2032.
Investors can purchase them at Cdn $101.232 per $100 principal amount, which includes accrued and unpaid interest from November 10, 2023, to November 14, 2023, totaling $0.06410959 per $100 principal amount, resulting in a yield of 5.670%.
Series M-62: 5.25% MTN Debentures
Another notable component of the offering is the Series M-62, comprising Cdn $700 million worth of 5.25% MTN Debentures. These debentures, dated November 14, 2023, are set to mature on March 15, 2029, and can be acquired at Cdn $99.897 per $100 principal amount, ensuring a yield to maturity of 5.274%.
Guaranteed by BCE Inc. and Utilized for Maturity Repayment
It’s crucial to note that these MTN Debentures come with a full and unconditional guarantee from BCE Inc. The funds raised from this offering will be directed towards retiring Bell Canada’s $1.0 billion principal amount of 2.70% MTN Debentures, Series M-44, which are due in February 2024.
A Broad Canadian Offering
These MTN Debentures are not restricted to a particular region but are publicly offered throughout all provinces of Canada through a syndicate of agents. We anticipate the closing date for this offering to be November 14, 2023, pending the satisfaction of customary closing conditions.
Compliance and Regulatory Note
While this news release provides a vital update, it’s crucial to clarify that it should not be regarded as offering to sell or soliciting to buy any securities. Additionally, the Series M-57 MTN Debentures and Series M-62 MTN Debentures haven’t been, and won’t be, registered under the U.S. Securities Act of 1933.
Consequently, they cannot be offered or sold in the United States or to U.S. persons, as defined in Regulation S under the U.S. Securities Act.
Issued per Regulatory Framework
These MTN Debentures are being issued in accordance with a short-form base shelf prospectus dated March 7, 2022, and a prospectus supplement dated May 19, 2022. Bell Canada plans to file a pricing supplement with the securities regulatory authorities in all provinces of Canada in relation to this issue.
About Bell Canada
A Leading Force in Canadian Communications
Bell Canada, established in Montreal in 1880, is the largest communications company in Canada. It offers a wide range of services, including advanced broadband wireless, TV, internet, media, and business communication services across the nation. As a wholly-owned subsidiary of BCE Inc., Bell Canada is at the forefront of delivering innovative communication solutions.
Bell for Better – A Commitment to Communities
Through its “Bell for Better” initiative, Bell Canada is dedicated to investing in a better today and a brighter tomorrow. The company actively supports the social and economic prosperity of communities across Canada. This includes the renowned Bell Let’s Talk initiative, which champions Canadian mental health through national awareness and anti-stigma campaigns, like Bell Let’s Talk Day.
Bell Canada also commits significant funding to community care, research, and workplace leadership initiatives, fostering positive change throughout the country. For more information, please visit Bell.ca or BCE.ca.