Exhibit 1
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 MTN Debentures
MONTRÉAL, March 20, 2020 – Bell Canada (Bell) today announced the public offering in Canada of Cdn $1.0 billion aggregate principal amount of MTN Debentures pursuant to its medium term notes (MTN) program.
The Cdn $1.0 billion 3.35% MTN Debentures, SeriesM-47, which are being issued pursuant to are-opening of an existing series of MTN Debentures, will be dated March 25, 2020, will mature on March 12, 2025, and will be issued at a price of Cdn $98.501 per $100 principal amount plus accrued and unpaid interest from and including March 12, 2020 to, but excluding, March 25, 2020 in the amount of $0.119315068 per $100 principal amount to yield 3.683%. The MTN Debentures will be fully and unconditionally guaranteed by BCE Inc. Bell intends to use the net proceeds of this offering to repay short-term debt and for general corporate purposes.
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 March 25, 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-47 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.
Update onCOVID-19
As theCOVID-19 situation continues to significantly impact the Canadian and global economy, Bell Canada has implemented a response plan to continue providing service and support to Bell customers while safeguarding the health and safety of the public and the Bell team.
Bell Canada is focused on securing its wireless, wireline and media networks as well as the key business operations required to ensure service continuity for customers. Bell Canada has implemented alternative working arrangements for employees and temporarily closed retail locations nationally, with the exception of a limited number of street front stores that remain open to urgent customer support.
As Bell Canada’s internal and external response plans evolve, the company remains in close contact with public safety and other government officials at all levels, suppliers and partners, and key business customers providing essential services to Canadians.
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