Bell Canada to redeem series M-35 debentures at 101.111% of par

New York, May 9 – Bell Canada announced the redemption price for its C$350 million of 4.37% series M-35 debentures due Sept. 13, 2017 will be C$1,011.11 per C$1,000 principal amount.

Holders will also receive accrued interest up to but excluding the redemption date, according to a news release.

Bell Canada previously announced that it will redeem the debentures on May 12.

The company said the price to be paid would be the greater of the Canada Yield Price and the principal amount of the debentures.

The Canada Yield Price equals the price of the debentures calculated to provide a yield to maturity equal to the Government of Canada Yield plus 46 basis points on the third business day prior to the redemption date.

Bell Canada is a Montreal-based telecommunications company.

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