Ms. Ellen Murphy reports
BELL ANNOUNCES OFFERING OF SERIES US-9 NOTES AND SERIES US-10 NOTES
BCE Inc.'s Bell Canada has arranged the offering in the United States of $1.45-billion (U.S.) aggregate principal amount of notes in two series. The $700-million (U.S.) in 5.200 per cent Series US-9 notes will mature on Feb. 15, 2034, and will be issued at a price of $99.823 (U.S.) per $100 (U.S.) principal amount for a yield to maturity of 5.223 per cent. The $750-million (U.S.) in 5.550 per cent Series US-10 notes will mature on Feb. 15, 2054, and will be issued at a price of $99.869 (U.S.) per $100 (U.S.) principal amount for a yield to maturity of 5.559 per cent. The notes are being publicly offered in the United States through a syndicate of underwriters. Closing of the offering of the notes is expected to occur on Feb. 15, 2024, subject to customary closing conditions. The notes will be fully and unconditionally guaranteed by BCE.
Bell intends to use the net proceeds from the U.S. offering for the repayment at maturity of Bell Canada's $600-million (U.S.) in Series US-3 notes due March, 2024, to finance the remaining payment for the 3,800-megahertz spectrum licences secured by Bell Mobility Inc. through the Canadian government's 3,800-megahertz spectrum auction and for other general corporate purposes, which may include the repayment of short-term debt.
The U.S. offering is being made in the United States pursuant to a prospectus supplement dated Feb. 12, 2024, to Bell's short form base shelf prospectus dated March 7, 2022, filed with the Securities and Exchange Commission as part of an effective shelf registration statement on Form F-10. The notes are not being offered in Canada or to any resident of Canada.
Copies of the short form base shelf prospectus and the prospectus supplement relating to the offering of the notes filed with securities regulatory authorities in the United States may be obtained from the investor relations department of Bell Canada at Building A, eighth floor, 1 Carrefour Alexander-Graham-Bell, Verdun, Que., H3E 3B3 (telephone 1-800-339-6353). Copies of these documents are also available electronically on SEDAR+ of the Canadian Securities Administrators or on EDGAR administered by the U.S. Securities and Exchange Commission.
About Bell Canada
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, it 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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