BCE Inc BCE

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, Nov. 7, 2023 /PRNewswire/ - Bell Canada (Bell) today announced the public offering in Canada of Cdn $1.0 billion aggregate principal amount of MTN Debentures in two series pursuant to its medium term notes (MTN) program.

The Cdn $300 million 5.85% MTN Debentures, Series M-57, which are being issued pursuant to a re-opening of an existing series of MTN Debentures, will be dated November 14, 2023, will mature on November 10, 2032, and will be issued at a price of Cdn $101.232 per $100 principal amount plus accrued and unpaid interest from and including November 10, 2023 to, but excluding, November 14, 2023 in the amount of $0.06410959 per $100 principal amount to yield 5.670%.

The Cdn $700 million 5.25% MTN Debentures, Series M-62, will be dated November 14, 2023, will mature on March 15, 2029 and will be issued at a price of Cdn $99.897 per $100 principal amount for a yield to maturity of 5.274%.

The MTN Debentures will be fully and unconditionally guaranteed by BCE Inc. Bell Canada intends to use the net proceeds from the offering towards funding the repayment at maturity of Bell Canada's $1.0 billion principal amount of 2.70% MTN Debentures, Series M-44, due February 2024.

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 November 14, 2023, 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 Series M-57 MTN Debentures and the Series M-62 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 U.S. 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 March 7, 2022 and a prospectus supplement dated May 19, 2022. Bell Canada will file a pricing supplement relating to this issue with the securities regulatory authorities in all provinces of Canada.

Bell is Canada's largest communications company,¹ providing advanced broadband wireless, TV, Internet, media and business communication services throughout the country. 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.

Media inquiries: 
Ellen Murphy
media@bell.ca

Investor inquiries:
Richard Bengian
richard.bengian@bell.ca

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 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 MTN Debentures is subject to customary closing terms and other risks and uncertainties. Accordingly, there can be no assurance that the proposed sale of the MTN Debentures will occur, or that it will occur at the expected time indicated in this news release.

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SOURCE Bell Canada