MONTREAL, February 6, 2023 /PRNewswire/ – Bell Canada (Bell) today announced the public offering of Canada C$1.5 billion aggregate principal amount of MTN Debentures in two series under its medium-term note (MTN) program.
The C$1.05 billion 4.55% MTN Debentures, Series M-58, will be dated February 9, 2023will mature on February 9, 2030 and will be issued at the price of CDN $99.787 by $100 capital for a yield to maturity of 4.586%. The C$450 million 5.15% MTN Debentures, Series M-59, will be dated February 9, 2023will mature on February 9, 2053 and will be issued at the price of CDN $99,500 by $100 capital for a yield to maturity of 5.183%. The MTN Debentures will be fully and unconditionally guaranteed by BCE Inc. Bell Canada intends to use the net proceeds of this offering to repay short-term debt and for general corporate purposes.
The MTN Debentures are offered to the public in all provinces of Canada through a syndicate of agents. The closing of the offering of these MTN Debentures is expected to occur on February 9, 2023subject to customary closing conditions.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and there will be no sale of such securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful. . The MTN Debentures have not been and will not be registered under the United States Securities Act of 1933, as amended (the United States Securities Act), or any United States state securities laws and may not be offered or sold in United States or to or for the account or benefit of US Persons (as defined in Regulation S of the US Securities Act).
The MTN Debentures are issued pursuant to a short form base shelf prospectus dated March 7, 2022 and a dated prospectus supplement May 19, 2022. Bell Canada will file a pricing supplement relating to this issue with the securities regulatory authorities in all provinces of Canada.
Bell is Canada’s largest communications company. It provides advanced broadband wireless communications, television, Internet, media and business services across the country. Founded in Montreal in 1880, Bell is wholly owned by BCE Inc. For more information, visit Bell.ca or BCE.ca.
Through Bell for Better, we invest to create a better today and a better tomorrow by supporting the social and economic prosperity of our communities with a commitment to the highest environmental, social and governance (ESG) standards. This includes the Bell Let’s Talk initiative, which promotes mental health in Canada with national awareness and anti-stigma campaigns like Bell Let’s Talk Day and significant funding from Bell for Care and community access, research and workplace leadership initiatives across the country. To learn more, visit Bell.ca/Lets Talk.
Caution Regarding Forward-Looking Statements
Certain statements made in this press release constitute forward-looking statements, including, but not limited to, statements relating to the expected timing and completion of the proposed sale of the MTN Debentures, the expected use of the net proceeds of this sale and other statements that are not historical facts. All such forward-looking statements are made pursuant to the “safe harbor” provisions of applicable Canadian securities laws and United States Private Securities Litigation Reform Act of 1995. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events will differ materially from our expectations expressed or implicit. by such forward-looking statements. These statements are not guarantees of future performance or events and we caution you not to rely on any of these forward-looking statements. The forward-looking statements contained in this press release describe our expectations as of the date of this press release and, accordingly, are subject to change after such date. Except as required by applicable securities laws, we undertake no obligation to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise. Forward-looking statements are provided herein for the purpose of providing information about the proposed offering mentioned above. Readers are cautioned that this information may not be suitable for other purposes. The timing and completion of the foregoing proposed sale of the MTN Debentures is subject to customary closing conditions and other risks and uncertainties. Accordingly, there can be no assurance that the proposed sale of the MTN Debentures will occur or that it will occur at the anticipated time set forth in this press release.
SOURCE Bell Canada