For immediate release
This news release contains forward-looking statements. For a description of the related risk factors and assumptions, please see the section entitled “Caution Concerning Forward-Looking Statements” later in this news release.
Bell announces offering of SeriesM-51 MTN Debentures
MONTRÉAL, February 10, 2020 – Bell Canada (Bell) today announced the public offering in Canada of Cdn $750 million aggregate principal amount of MTN Debentures pursuant to its medium term notes (MTN) program.
The Cdn $750 million 3.50% MTN Debentures, SeriesM-51, will be dated February 13, 2020, will mature on September 30, 2050, and will be issued at a price of Cdn $99.902 per $100 principal amount for a yield to maturity of 3.505%. The MTN Debentures will be fully and unconditionally guaranteed by BCE Inc. Bell intends to use the net proceeds of this offering to fund the redemption of its Cdn $500 million principal amount of 4.95% SeriesM-24 Debentures, due May 19, 2021, and to repay short-term debt.
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 February 13, 2020, subject to customary closing conditions.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful. The SeriesM-51 MTN Debentures have not been and will not be registered under the U.S. Securities Act of 1933, as amended (U.S. Securities Act), or any state securities laws and may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as defined in Regulation S under the U.S. Securities Act).
The MTN Debentures are being issued pursuant to a short form base shelf prospectus dated May 29, 2019 and a prospectus supplement dated June 6, 2019. Bell will file a pricing supplement relating to this issue with the securities regulatory authorities in all provinces of Canada.
Caution Concerning Forward-Looking Statements
Certain statements made in this news release constitute forward-looking statements, including, but not limited to, statements relating to the expected timing and completion of the proposed sale of MTN Debentures, the intended use of the net proceeds of such sale and other statements that are not historical facts. All such forward-looking statements are made pursuant to the “safe harbour” provisions of applicable Canadian securities laws and of the United StatesPrivate 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 could differ materially from our expectations expressed in or implied by such forward-looking statements. These statements are not guarantees of future performance or events and we caution you against relying on any of these forward-looking statements. The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Except as may be required by applicable securities laws, we do not undertake any obligation to update or revise any
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