BCE Establishes $3.3B Credit Facility

BCE Inc. established, on July 12, 2002, a $3.3 billion credit facility with a syndicate of banks to finance a portion of the purchase price to be paid by BCE to SBC Communications Inc. in connection with BCE’s repurchase of SBC’s 20 per cent indirect minority interest in Bell Canada. Bank of Montreal (Montreal branch) acted as the administrative agent for the lending syndicate, comprised of Canadian banks and Canadian branches of foreign banks.

BCE was represented in-house by Martine Turcotte, chief legal officer; Ildo Ricciuto, assistant general counsel, compliance; Marc Ryan, corporate secretary; and Eric Paul-Hus, senior legal counsel; assisted by Davies Ward Phillips & Vineberg LLP with a team comprised of Scott Hyman, Alan Golden, Hillel Rosen and Peter Hong. The syndicate of lenders was represented by Heenan Blaikie LLP, with a team comprised of Ken Atlas and Glen Bowman.