Bell Aliant Establishes Commercial Paper Program

On July 13, 2006, Bell Aliant Regional Communications, Limited Partnership (Bell Aliant LP), one of the principal operating interests of the newly created Bell Aliant Regional Communications Income Fund (Bell Aliant Fund), established a commercial paper program with a maximum borrowing capacity of $400 million.
Proceeds from the issuance of notes under the program will be used to repay existing bank indebtedness and for general operating purposes. The notes will be offered through a dealer group comprising CIBC World Markets, Scotia Capital, RBC Capital Markets, Bank of Montreal and the Toronto-Dominion Bank.
Bell Aliant Fund, which was formed on July 7, 2006, serves its customers throughout six Canadian provinces with innovative information and communications technology solutions, including telephony, wireless, Internet, data, IT professional services and value-added solutions. Bell Aliant Fund also provides IT professional services through xwave's offices in Canada, the US and Ireland.
Bell Aliant LP was represented in-house by Fred Crooks, chief legal officer, Evan Kipnis, vice-president legal services and associate general counsel, Paul Fitzpatrick, director, legal services, Nanci Rorabeck, legal counsel, and Alana Patterson, assistant secretary. Blake, Cassels & Graydon LLP acted for Bell Aliant LP with a team comprised of Sheila Murray, Anoop Dogra, Eric Moncik and Matthew Merkley (corporate/securities) and Paul Tamaki (tax), and assisted by Trisha Robertson in Vancouver, Daniel McLeod in Calgary, and Michael Bantey and Hélène Barette in Montreal.