DBRS Rates BCE Inc.’s $250 Million Preferred Share Issue Pfd-3 (high), Stable Trend

DBRS has today assigned a rating of Pfd-3 (high) to BCE Inc.’s $250 million 4.15% preferred share issuance (with an over-allotment option of up to $30 million). The trend is Stable.

The cumulative redeemable preferred shares carry an initial dividend rate of 4.15%, with holders having the option to convert to floating-rate dividends on December 31, 2016, and every subsequent five years. This issuance was initiated by BCE Inc. today for settlement on or around January 4, 2012. The preferred 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 the Communications Industry, Rating the Television Broadcasting Industry and Rating the Radio Industry, which can be found on our website under Methodologies.