Bell Canada issues US$1.45 billion in senior unsecured notes

Company

Bell Canada

Law Firm / Organization
Stikeman Elliott LLP
Law Firm / Organization
Sullivan & Cromwell LLP

Bank

BofA Securities, Inc.

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Bank

RBC Capital Markets, LLC

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Bank

CIBC World Markets Corp.

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Bank

Mizuho Securities USA LLC

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Bank

Scotia Capital (USA) Inc.

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Bank

SMBC Nikko Securities America, Inc.

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Bank

National Bank of Canada Financial Inc.

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Bank

Wells Fargo Securities, LLC

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Bank

BMO Capital Markets Corp.

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Bank

Citigroup Global Markets Inc.

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Bank

Citigroup Global Markets Inc.

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Bank

Desjardins Securities Inc.

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Bank

TD Securities (USA) LLC

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Company

Casgrain & Company Limited

Law Firm / Organization
McCarthy Tétrault LLP
Law Firm / Organization
Shearman & Sterling LLP

Bell Canada announced on February 12, 2024, and closed on February 15, 2024, a US$1.45 billion (C$1.95 billion) debt offering, consisting of US$700 million (C$942 million) of 5.200% Series US-9 Notes due 2034 and US$750 million (C$1.01 billion) of 5.550% Series US-10 Notes due 2054. The notes, guaranteed by BCE Inc., will be used to repay US$600 million (C$807 million) in maturing notes, fund spectrum payments, and for general corporate purposes.

Underwriters included BofA Securities, RBC Capital Markets, CIBC Capital Markets, Mizuho, Scotiabank, SMBC Nikko, National Bank of Canada Financial Markets, Wells Fargo Securities, BMO Capital Markets, Citigroup, Desjardins Capital Markets, TD Securities, and Casgrain & Company Limited. Legal advisors were Stikeman Elliott LLP and Sullivan & Cromwell LLP for Bell Canada, and Shearman & Sterling LLP and McCarthy Tétrault LLP for the underwriters.

The notes are unsecured, senior obligations of Bell Canada, with interest payable semi-annually starting August 15, 2024. The offering was conducted under Bell Canada’s multijurisdictional disclosure system and the notes are not listed on any exchange.

Public/Private Offering
Banking/Finance
$ 1,950,000,000
Closed
15 February 2024