Ms. Ellen Murphy reports

BELL ANNOUNCES OFFERING OF MTN DEBENTURES

BCE Inc.'s Bell Canada has arranged a public offering in Canada of $1-billion aggregate principal amount of MTN debentures in two series pursuant to its medium-term notes (MTN) program.

The $300-million 5.85 per cent MTN debentures, Series M-57, which are being issued pursuant to a reopening of an existing series of MTN debentures, will be dated Nov. 14, 2023, will mature on Nov. 10, 2032, and will be issued at a price of $101.232 per $100 principal amount plus accrued and unpaid interest from and including Nov. 10, 2023, to, but excluding, Nov. 14, 2023, in the amount of 6.410959 cents per $100 principal amount to yield 5.67 per cent.

The $700-million 5.25 per cent MTN debentures, Series M-62, will be dated Nov. 14, 2023, will mature on March 15, 2029, and will be issued at a price of $99.897 per $100 principal amount for a yield to maturity of 5.274 per cent.

The MTN debentures will be fully and unconditionally guaranteed by BCE. Bell Canada intends to use the net proceeds from the offering toward financing the repayment at maturity of Bell Canada's $1.0-billion principal amount of 2.7 per cent MTN debentures, Series M-44, due February, 2024.

The MTN debentures are being publicly offered in all provinces of Canada through a syndicate of agents. Closing of the offering of the MTN debentures is expected to occur on Nov. 14, 2023, subject to customary closing conditions.

The MTN debentures are being issued pursuant to a short-form base shelf prospectus dated March 7, 2022, and a prospectus supplement dated May 19, 2022. Bell Canada will file a pricing supplement relating to this issue with the securities regulatory authorities in all provinces of Canada.

About Bell

Bell is Canada's largest communications company (1), providing advanced broadband wireless, TV, Internet, media and business communication services throughout the country. Founded in Montreal in 1880, Bell is wholly owned by BCE.

Through Bell for Better, Bell is investing to create a better today and a better tomorrow by supporting the social and economic prosperity of its communities. This includes the Bell Let's Talk initiative, which promotes Canadian mental health with national awareness and anti-stigma campaigns like Bell Let's Talk Day, and significant Bell funding of community care and access, research, and workplace leadership initiatives throughout the country.

(1) Based on total revenue and total combined customer connections.

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