Bell Canada Completes Offerings of MTN Debentures

Bell Canada recently completed two offerings of medium term note debentures of an aggregate principal amount of $900 million. The first offering, of $500 million, was completed on January 15, 2002 and was comprised of 6.25 per cent debentures, series M-13, maturing April 12, 2012, priced to yield 6.332 per cent semi-annually. The second offering, of $400 million, was completed on February 22, 2002 and was comprised of 7.3 per cent debentures, series M-14, maturing February 23, 2032, priced to yield 7.323 per cent compounded semi-annually.
The debentures were issued pursuant to the short-form shelf prospectus and prospectus supplement dated June 11, 2001 and June 12, 2001, respectively, that qualified the issuance of up to $3 billion aggregate principal amount of medium term note debentures over a two-year period.
The offering of the series M-13 debentures was led by CIBC World Markets Inc., and the offering of the series M-14 debentures was led by TD Securities Inc. The syndicate for both offerings was comprised of BMO Nesbitt Burns Inc., Casgrain & Company Limited, HSBC Securities (Canada) Inc., Merrill Lynch Canada Inc., National Bank Financial Inc., RBC Dominion Securities Inc. and Scotia Capital Inc.
Ildo Ricciuto, assistant general counsel, Bell Canada, handled the legal aspects of the offerings for Bell Canada, assisted by Jean Marc Huot, Benoît Dubord and Claire Zikovsky of Stikeman Elliott in Montreal. Osler, Hoskin & Harcourt LLP acted for the dealers in connection with the offerings, with a team comprised of Robert Yalden and Andrew Scipio del Campo in Montreal.