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, March 20, 2020
/PRNewswire/ - 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, Series M-47, which are being issued pursuant to a
re-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 Series M-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 on COVID-19
As the COVID-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.
Public and private sector policies and initiatives to reduce the
transmission of COVID-19, including the imposition of travel
restrictions, the promotion of social distancing and the adoption
of work-from-home and online education by companies and
institutions, are impacting how customers use Bell networks,
products and services, as well as the ability of certain suppliers
and vendors to provide products and services.
Due to the speed with which the situation is developing and the
uncertainty of its magnitude, outcome and duration, we are not able
at this time to estimate the impact of the COVID-19 situation on
our operations or financial results; however, the impact could be
material.
Caution Concerning Forward-Looking Statements
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, the
expected outcome of the plans we have implemented in response to
the COVID-19 situation 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 and about the plans we have implemented in response to the
COVID-19 situation and its expected impact on us. 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. In addition, there can be no certainty that the plans we
have implemented in response to COVID-19 will yield the expected
results. Due to the speed with which the COVID-19 situation is
developing and the uncertainty of its magnitude, outcome and
duration, we are not able at this time to estimate the impact of
the COVID-19 situation on our operations or financial results;
however, the impact could be material.
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. (TSX, NYSE:
BCE). 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