Bell Canada announces redemption price for 4.88% debentures is 101.748

By Wendy Van Sickle

Columbus, Ohio, Oct. 4 – Bell Canada will redeem its C$300 million 4.88% debentures, series M-36, due April 26, 2018, at a price of 101.748, according to a company news release.

The company will also pay accrued interest of C$22.421 per C$1,000 principal amount to the redemption date of Oct. 9, with payment to be made on Oct. 10 because of a Canadian banking holiday on Oct. 9.

The company announced the redemption on Sept. 29.

The redemption price is equal to the Canada yield price, which means a price equal to 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 communications company based in Montreal.

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