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.
MONTRÉAL, Feb. 12,
2025 /PRNewswire/ - Bell
Canada (Bell) today announced the offering of US$2.25 billion aggregate principal amount of
Fixed-to-Fixed Rate Junior Subordinated Notes in two series (the
Offering).
The US$1 billion Fixed-to-Fixed Rate Junior
Subordinated Notes, Series A due 2055 will initially bear interest
at an annual rate of 6.875% and reset every five years starting on
September 15, 2030 at an annual rate
equal to the five-year U.S. Treasury rate plus a spread of 2.390%,
provided that the interest rate during any five-year interest
period will not reset below 6.875%. The US$1.25 billion Fixed-to-Fixed Rate Junior
Subordinated Notes, Series B due 2055 will initially bear interest
at an annual rate of 7.000% and reset every five years starting on
September 15, 2035 at an annual
rate equal to the five-year U.S. Treasury rate plus a spread of
2.363%, provided that the interest rate during any five-year
interest period will not reset below 7.000% (together, the
Notes).
The Notes are being publicly offered in the United States through a syndicate of
underwriters. Closing of the Offering is expected to occur on
February 18, 2025, subject to
customary closing conditions. The Notes will be fully and
unconditionally guaranteed by BCE Inc.
Bell intends to use the net proceeds from the Offering to
repurchase, redeem or repay, as applicable, its senior indebtedness
and for other general corporate purposes.
The Offering is being made in the
United States pursuant to a prospectus supplement to Bell's
amended and restated short form base shelf prospectus dated
February 6, 2025, filed with the
Securities and Exchange Commission as part of an effective shelf
registration statement on Form F-10. The Notes are not qualified
for distribution in Canada under a
prospectus pursuant to applicable securities laws, and no offer,
sale or solicitation of an offer to buy Notes in Canada or to residents of Canada will be made
unless an exemption from Canadian prospectus requirements is
available.
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 prior to registration
or qualification under the securities laws of any such
jurisdiction.
Copies of the amended and restated short form base shelf
prospectus and the prospectus supplement relating to the Offering,
which have been filed with the U.S. Securities and Exchange
Commission, may be obtained from the Investor Relations department
of Bell Canada at Building A, 8th
floor, 1 Carrefour
Alexander-Graham-Bell, Verdun, Québec,
H3E 3B3 (telephone 1-800-339-6353). Copies of
these documents are also available electronically on the System for
Electronic Document Analysis and Retrieval of the Canadian
Securities Administrators (SEDAR+), at www.sedarplus.com, or on the
Electronic Data Gathering, Analysis, and Retrieval system,
administered by the U.S. Securities and Exchange Commission (EDGAR)
at www.sec.gov.
Caution Concerning Forward-Looking Statements
Certain statements made in this news release are forward-looking
statements, including, but not limited to, statements relating to
the expected timing and completion of the proposed sale of the
Notes, 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 States Private 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 forward‑looking statements contained in this
news release, whether as a result of new information, future events
or otherwise. Forward-looking statements are provided herein for
the purpose of giving information about the proposed offering
referred to above. Readers are cautioned that such information may
not be appropriate for other purposes. The timing and completion of
the abovementioned proposed sale of the Notes is subject to
customary closing terms and other risks and uncertainties.
Accordingly, there can be no assurance that the proposed sale of
the Notes will occur, or that it will occur at the expected time
indicated in this news release.
About Bell
Bell is Canada's largest communications company,1
providing advanced broadband Internet, wireless, TV, media and
business communication services. Founded in Montréal in 1880, Bell
is wholly owned by BCE Inc. To learn more, please visit
Bell.ca or BCE.ca.
Through Bell for Better, we are investing to create a
better today and a better tomorrow by supporting the social and
economic prosperity of our 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. To learn more, please visit Bell.ca/LetsTalk.
|
1 Based on
total revenue and total combined customer connections.
|
Media inquiries:
Ellen
Murphy
media@bell.ca
Investor inquiries:
Richard Bengian
richard.bengian@bell.ca
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SOURCE Bell Canada (MTL)
