Bell Canada to redeem Series M-42 debentures due October 1, 2021

Rhea-AI Summary

Bell Canada has announced that it will redeem all outstanding Cdn $850 million principal amount of 2.00% Debentures, Series M-42, due on November 6, 2020. The redemption price will be $1,013.159 per $1,000 principal amount, plus $1.973 for accrued interest. This decision highlights Bell's financial strategy in managing its debts effectively. The Series M-42 Debentures were initially due on October 1, 2021, demonstrating the company’s proactive approach to debt redemption.

Positive

• Redemption of Cdn $850 million debentures indicates sound financial management.
• Early redemption may improve future liquidity by reducing interest obligations.

Negative

• None.

MONTRÉAL, Oct. 6, 2020 /PRNewswire/ - Bell Canada (Bell) today announced it will redeem, on November 6, 2020, prior to maturity, all of its outstanding Cdn $850 million principal amount of 2.00% Debentures, Series M-42, due October 1, 2021 (the Series M-42 Debentures).

The Series M-42 Debentures will be redeemed at a price equal to $1,013.159 per $1,000 of principal amount of debentures plus $1.973 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:

Marie-Eve Francoeur
514-391-5263
marie-eve.francoeur@bell.ca

Investor inquiries:

Thane Fotopoulos
514-870-4619
thane.fotopoulos@bell.ca

View original content:http://www.prnewswire.com/news-releases/bell-canada-to-redeem-series-m-42-debentures-due-october-1-2021-301147129.html

SOURCE Bell Canada

FAQ

When will Bell Canada redeem its Series M-42 Debentures?

Bell Canada will redeem its Series M-42 Debentures on November 6, 2020.

What is the total amount of Series M-42 Debentures being redeemed by Bell Canada?

Bell Canada is redeeming a total of Cdn $850 million in Series M-42 Debentures.

What is the redemption price for Bell Canada's Series M-42 Debentures?

The redemption price for the Series M-42 Debentures is $1,013.159 per $1,000 of principal amount.

What was the original maturity date of the Series M-42 Debentures?

The original maturity date of the Series M-42 Debentures was October 1, 2021.