Bell Canada renews Medium Term Notes (MTN) program

Rhea-AI Summary

Bell Canada has renewed its Medium Term Notes (MTN) program, filing a prospectus supplement for its base shelf prospectus dated May 9, 2024. This renewal allows Bell to offer MTN Debentures until June 9, 2026, guaranteeing them fully and unconditionally through BCE. The MTN program aims to provide financial flexibility and efficient access to Canadian capital markets. Bell has also signed a dealer agreement, enabling certain dealers to act as agents for future MTN Debenture offerings. The securities will not be registered under the U.S. Securities Act of 1933 and cannot be sold in the U.S.

Positive

• Renewal of MTN program provides financial flexibility and efficient access to capital markets.
• MTN Debentures are fully and unconditionally guaranteed by BCE.
• Dealer agreement ensures support for future debenture offerings.

Negative

• MTN Debentures cannot be offered or sold in the U.S., limiting market reach.

MONTRÉAL, May 16, 2024 /PRNewswire/ - Bell Canada (Bell) today announced the filing of a prospectus supplement to a short form base shelf prospectus dated May 9, 2024 with the various securities regulatory authorities in all provinces of Canada to renew Bell's MTN program.

The MTN program will enable Bell to offer MTN Debentures from time to time until June 9, 2026. The MTN Debentures will be fully and unconditionally guaranteed by BCE Inc. (TSX, NYSE: BCE). Consistent with past practice, the MTN program was renewed to continue to provide Bell with financial flexibility and efficient access to the Canadian capital markets.

Bell also entered into a dealer agreement under which certain dealers have agreed to act as agents with respect to future offerings of the MTN Debentures.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall 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. Any offer of securities covered by the prospectus supplement will be made by a pricing supplement containing specific information about the terms of any such offering. The  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).

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

View original content:https://www.prnewswire.com/news-releases/bell-canada-renews-medium-term-notes-mtn-program-302148398.html

SOURCE Bell Canada

FAQ

What is the purpose of Bell Canada renewing its MTN program?

The renewal aims to provide Bell with financial flexibility and efficient access to Canadian capital markets until June 9, 2026.

Who guarantees Bell Canada's MTN Debentures?

The MTN Debentures are fully and unconditionally guaranteed by BCE.

Until when can Bell Canada offer MTN Debentures?

Bell Canada can offer MTN Debentures until June 9, 2026.

Can Bell Canada's MTN Debentures be sold in the U.S.?

No, the MTN Debentures are not registered under the U.S. Securities Act and cannot be sold in the U.S.

What is the role of the dealer agreement in Bell Canada's MTN program?

The dealer agreement allows certain dealers to act as agents for future MTN Debenture offerings.