Sunday, 3 March 2024


Bell Canada launches $1.45 billion US notes offering By

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© Reuters.

MONTRÉAL – Bell Canada, the country’s largest communications company, has announced a US $1.45 billion notes offering in the United States. The offering includes two series of notes, with the first series consisting of US $700 million 5.200% Series US-9 Notes due to mature on February 15, 2034, and the second series comprising US $750 million 5.550% Series US-10 Notes set to mature on February 15, 2054.

The Series US-9 Notes are being issued at a price of US $99.823 per $100 principal amount, yielding a maturity of 5.223%. The Series US-10 Notes will be issued at US $99.869 per $100 principal amount, with a yield to maturity of 5.559%. A syndicate of underwriters is managing the public offering in the United States.

Bell Canada intends to use the net proceeds from this offering to repay its US $600 million Series US-3 Notes due in March 2024, to fund the payment for the 3800 MHz spectrum licenses obtained by Bell Mobility Inc. in the Canadian government’s spectrum auction, and for other general corporate purposes, which may include repayment of short-term debt.

The notes offering is expected to close on February 15, 2024, subject to customary closing conditions. Both series of notes will be fully and unconditionally guaranteed by BCE (NYSE:) Inc., Bell Canada’s parent company.

This offering is made in the United States according to a prospectus supplement to Bell’s short form base shelf prospectus filed with the Securities and Exchange Commission as part of a shelf registration statement on Form F-10. The notes are not being offered in Canada or to any Canadian residents.

The forward-looking statements in the press release are made under the “safe harbor” provisions of Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected.

Bell Canada, founded in Montréal in 1880, provides a range of communications services including advanced broadband wireless, TV, Internet, media, and business communication services across Canada. Bell for Better is the company’s investment initiative focused on supporting the social and economic prosperity of communities, which includes the Bell Let’s Talk initiative for Canadian mental health.

This news article is based on a press release statement from Bell Canada.

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