Bell Canada to redeem Series M-30 debentures due September 29, 2021

Rhea-AI Summary

Bell Canada announced the early redemption of all outstanding Cdn $750 million principal amount of its 3.15% Debentures, Series M-30, previously due on September 29, 2021. The redemption will take place on September 14, 2020, at a price of $1,026.664 per $1,000 of principal, including $14.585 for accrued and unpaid interest. This decision reflects Bell's financial strategy and maintains its commitment to manage its debt effectively.

Positive

• Early redemption indicates strong financial management.
• Ensures competitive interest rate environment by reducing debt.
• Maintaining liquidity by managing future interest obligations.

Negative

• None.

MONTRÉAL, Aug.14, 2020 /PRNewswire/ - Bell Canada (Bell) today announced it will redeem, on September 14, 2020, prior to maturity, all of its outstanding Cdn $750 million principal amount of 3.15% Debentures, Series M-30, due September 29, 2021 (the Series M-30 Debentures).

The Series M-30 Debentures will be redeemed at a price equal to $1,026.664 per $1,000 of principal amount of debentures plus $14.585 per $1,000 of principal amount for accrued and unpaid interest up to but excluding the date of redemption.

About Bell
Canada's largest communications company with more than 22 million consumer and business connections, Bell provides advanced broadband wireless, TV, Internet and business communication services throughout the country. Bell Media is Canada's premier multimedia 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 community care and access, research and workplace leadership initiatives throughout the country. To learn more, please visit Bell.ca/LetsTalk.

Media inquiries:

Caroline Audet
514-391-9794
caroline.audet@bell.ca 

Investor inquiries:

Richard Bengian
514-786-8219
richard.bengian@bell.ca

View original content:http://www.prnewswire.com/news-releases/bell-canada-to-redeem-series-m-30-debentures-due-september-29-2021-301112623.html

SOURCE Bell Canada

FAQ

What is the date of Bell Canada's early redemption of debentures?

Bell Canada will redeem its Series M-30 debentures on September 14, 2020.

What is the total amount of debentures being redeemed by Bell Canada?

Bell Canada is redeeming Cdn $750 million of its 3.15% Debentures, Series M-30.

What will be the redemption price for Bell Canada's Series M-30 debentures?

The Series M-30 debentures will be redeemed at $1,026.664 per $1,000 of principal.

How much interest will be paid to debenture holders upon redemption?

An accrued interest of $14.585 per $1,000 of principal will be paid to debenture holders.

What was the original maturity date of Bell Canada's Series M-30 debentures?

The original maturity date for the Series M-30 debentures was September 29, 2021.