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Bell Aliant sets 101.267 redemption price for 6.29% notes due 2015
By Angela McDaniels
Tacoma, Wash., Oct. 27 – Bell Aliant Regional Communications, LP will pay C$1,012.67 per C$1,000 principal amount of notes to redeem its 6.29% medium-term notes due Feb. 17, 2015, according to a company news release.
As previously reported, the company will redeem the notes on Oct. 30.
The redemption price was calculated on Oct. 27 to provide a yield to maturity equal to the Government of Canada yield plus 100 basis points.
The Government of Canada yield used to calculate the redemption price is 0.95%, which is the average of the rates calculated by two registered Canadian investment dealers selected by Bell Aliant, and the tender yield is 1.95%.
The company will also pay C$12.752 of accrued interest per note, which brings the total payment to C$1,025.422 per C$1,000 principal amount of notes.
Bell Aliant is a communications provider based in Halifax, N.S.
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