MONTRÉAL, May 14, 2019 /CNW
Telbec/ - Bell Canada (Bell) (TSX:
BCE) (NYSE: BCE) today announced it will redeem, on
June 13, 2019, prior to maturity, all
of its outstanding $1 billion
principal amount of 3.25% Debentures, Series M-27, due June 17, 2020 (the "Series M-27 Debentures"). The
Series M-27 Debentures will be redeemed at a price equal to
$1,011.945 per $1,000 of principal amount of debentures plus
$15.849 per $1,000 of principal amount for accrued and unpaid
interest up to, but excluding, the date of redemption.
In addition, Bell will redeem, on May 24,
2019, (the "M-37 Redemption Date"), prior to maturity, all
of its outstanding $400 million
principal amount of 3.54% Debentures, Series M-37, due June 12, 2020 (the "Series M-37 Debentures"). The
Series M-37 Debentures will be redeemed at a price equal to the
greater of the "Canada Yield Price" and the principal amount of the
Series M-37 Debentures, together in each case with accrued and
unpaid interest up to, but excluding, the M-37 Redemption Date
(in the aggregate, the "M-37 Redemption Price") as indicated
below.
Pursuant to the terms of the Series M-37 Debentures, the "Canada
Yield Price" means a price equal to the price of the Series M-37
Debentures calculated to provide a yield to maturity equal to the
Government of Canada Yield plus 0.42% on the third business day
prior to the date fixed for redemption. The "Government of Canada
Yield", on any date, means the yield to maturity on such date,
compounded semi-annually, which a non-callable Government of Canada
Bond would carry if issued, in Canadian dollars in Canada, at 100% of its principal amount on
such date with a term to maturity equal to the remaining term to
maturity of the Series M-37 Debentures. The Government of Canada
Yield used to calculate the M-37 Redemption Price will be the
average of the rates calculated by two registered Canadian
investment dealers selected by Bell.
Notice of redemption was delivered to the registered holders of
the Series M-27 Debentures and the Series M-37 Debentures in
accordance with their terms.
About Bell
Bell is Canada's largest communications
company, providing advanced broadband wireless, TV, Internet and
business communication services throughout the country. Bell Media
is Canada's premier content creation company with leading assets in
television, radio, out of home and digital media. Founded in
Montréal in 1880, Bell is wholly owned by BCE Inc. To learn more,
please visit Bell.ca or BCE.ca.
The Bell Let's Talk initiative promotes Canadian mental health
with national awareness and anti-stigma campaigns like Bell Let's
Talk Day and significant Bell funding of mental health care and
access, research and workplace leadership initiatives. To learn
more, please visit Bell.ca/LetsTalk.
Media inquiries:
Marie-Eve Francoeur
514-391-5263
marie-eve.francoeur@bell.ca
Investor inquiries:
Thane Fotopoulos
514-870-4619
thane.fotopoulos@bell.ca
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SOURCE Bell Canada