Bell Canada, Bell Aliant seek approval to swap out seven note series

By Susanna Moon

Chicago, Oct. 20 – Bell Canada and Bell Aliant Inc. said that Bell Aliant Regional Communications, LP will hold meetings on Nov. 14 for holders of seven series of notes.

Bell Aliant is asking holders to approve the exchange of the seven note series for newly issued debentures of Bell Canada, according to a company press release.

The Bell Canada debentures will have the same financial terms as those being exchanged, the company noted.

“The note exchange transactions are part of Bell’s strategy to simplify its capital structure and enhance administrative efficiencies by concentrating public debt into a single issuer,” the company added.

The seven series of notes are the company’s

• 5.41% medium-term notes, series 2, due Sept. 26, 2016;

• 5.52% medium-term notes, series 4, due Feb. 26, 2019;

• 6.17% medium-term notes, series 5, due Feb. 26, 2037;

• 4.37% medium-term notes, series 7, due Sept. 13, 2017;

• 4.88% medium-term notes, series 8, due April 26, 2018;

• 3.54% medium-term notes, series 9, due June 12, 2020; and

• Floating-rate medium-term notes, series 10, due April 22, 2016.

BMO Capital Markets and RBC Capital Markets are the solicitation agents. D.F. King Canada (800 294-5107 or 201 806-7301 outside of North America, or by email at inquiries@dfking.com) is the information agent.

Bell Aliant is a Halifax, N.S.-based telephone and internet provider for Canadian provinces.

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