DBRS Assigns Pfd-3 (high) Rating to BCE Inc.’s $300 Million Preferred Share Issue

DBRS has today assigned a rating of Pfd-3 (high) to BCE Inc.’s $300 million 4.15% preferred share issuance (with an over-allotment option). The trend is Stable.

The cumulative redeemable preferred shares carry an initial dividend rate of 4.15%, with holders having have the option to convert to floating-rate dividends on December 31, 2016, and every subsequent five years. This share issuance was initiated by BCE Inc. today for settlement on or around July 5, 2011. The shares will be issued by way of short form prospectus.

DBRS expects BCE Inc. to use the proceeds from this issue for general corporate purposes.

Note:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodologies are Rating Communications, Rating Television and Rating Radio, which can be found on our website under Methodologies.