BCE Completes $510M Public Offering

On March 1, 2002, BCE Inc. completed a $510 million public offering of cumulative redeemable first preferred shares series AA, listed on the TSE. Eight million of the shares were sold at $25.50 per share to a syndicate of investment dealers led by TD Securities Inc., and including CIBC World Markets Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc. and Merrill Lynch Canada Inc., for resale to the public. Twelve million more series AA shares were sold at the same price to the former holders of BCE’s series W cumulative redeemable first preferred shares. BCE had exercised its option to purchase the series W shares for cancellation.

Ildo Ricciuto, assistant general counsel, compliance, BCE, provided legal advice to BCE, along with Jean Marc Huot, Benoît Dubord and Robert Carelli (corporate and securities) and Robert Hogan and Marie-Andrée Beaudry (tax) of Stikeman Elliott. Richard Shannon and Roderick Elliott of Borden Ladner Gervais LLP acted for the underwriters and former series W preferred shareholders.