Chicago, March 15 – Bell Canada sold C$1.55 billion of medium-term notes in two parts, according to a 6-K filing with the Securities and Exchange Commission.
The company sold C$1 billion 3% medium-term notes, series M-54, with a March 17, 2031 maturity at 99.914 for a 3.01% yield.
Also sold were C$550 million 4.05% medium-term notes, series M-55, due March 17, 2051. The notes sold at 99.69 to yield 4.068%.
The notes are fully and unconditionally guaranteed by BCE Inc.
Bookrunners were Barclays, BMO Capital Markets Corp., BofA Securities Inc. and Citigroup Global Markets.
Bell Canada also sold $1.1 billion of notes in two parts on Friday, an issue that was earlier reported.
Proceeds for both offerings will be used to partially fund the redemption, in whole or in part, of the company’s C$1.7 billion principal amount of 3% debentures, series M-40, due Oct. 3, 2022. Any remaining proceeds will be used for repayment of short-term debt.
The telecommunications company is based in Montreal.
| Issuer: | Bell Canada
|
| Guarantor: | BCE Inc.
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| Amount: | C$1.55 billion
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| Bookrunners: | Barclays, BMO Capital Markets Corp., BofA Securities Inc. and Citigroup Global Markets
|
| Pricing date: | March 12
|
| Settlement date: | March 17
|
|
|
| 2031 notes
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| Amount: | C$1 billion
|
| Maturity: | March 17, 2031
|
| Securities: | Series M-54 notes
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| Coupon: | 3%
|
| Price: | 99.914
|
| Yield: | 3.01%
|
|
|
| 2051 notes
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| Amount: | C$550 million
|
| Maturity: | March 17, 2051
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| Securities: | Series M-55 notes
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| Coupon: | 4.05%
|
| Price: | 99.69
|
| Yield: | 4.068%
|
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