EXHIBIT 99.1
For immediate release
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.
Bell announces offering of Series US-9 Notes and Series US-10 Notes
MONTRÉAL, February 12, 2024 Bell Canada (Bell) today announced the offering in the United States of US $1.45 billion aggregate principal
amount of Notes in two series (the US Offering). The US $700 million 5.200% Series US-9 Notes will mature on February 15, 2034 and will be issued at a price of US $99.823 per $100 principal
amount for a yield to maturity of 5.223%. The US $750 million 5.550% Series US-10 Notes will mature on February 15, 2054 and will be issued at a price of US $99.869 per $100 principal amount for a yield
to maturity of 5.559%. The Notes are being publicly offered in the United States through a syndicate of underwriters. Closing of the offering of the Notes is expected to occur on February 15, 2024, 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 US Offering for the repayment at maturity of
Bell Canadas US $600,000,000 Series US-3 Notes due March 2024, to fund the remaining payment for the 3800 MHz spectrum licenses secured by Bell Mobility Inc. through the Canadian governments 3800
MHz spectrum auction, and other general corporate purposes, which may include the repayment of short-term debt.
The US Offering is being made in the
United States pursuant to a prospectus supplement dated February 12, 2024 to Bells short form base shelf prospectus dated March 7, 2022 filed with the Securities and Exchange Commission as part of an effective shelf registration
statement on Form F-10. The Notes are not being offered in Canada or to any resident of Canada.
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 short form base shelf prospectus and the prospectus
supplement relating to the offering of the Notes filed with securities regulatory authorities in the United States 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 US 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