Bell Canada Completes Offering

Bell Canada closed, on February 12, 2003, a public offering of its 5.5 per cent medium term note debentures, series M-16, maturing on August 12, 2010, in an aggregate amount of $600 million, priced to yield 5.553 per cent compounded semi-annually. The offering was made pursuant to a pricing supplement dated February 4, 2003 to Bell Canada’s June 11, 2001 shelf prospectus and June 12, 2001 prospectus supplement.

The offering was led by Scotia Capital Inc., with a syndicate that included BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., National Bank Financial Inc., CIBC World Markets Inc., TD Securities Inc., Merrill Lynch Canada Inc., Casgrain & Company Limited and HSBC Securities (Canada) Inc.

Bell Canada was represented in-house by Mark Hounsell, assistant general counsel, and by Jean Marc Huot and Benoît Dubord of Stikeman Elliott LLP. Osler, Hoskin & Harcourt LLP acted for the dealers, with a team that included Robert Yalden and Andrew Scipio del Campo.