DBRS Rates Bell Canada’s $1 Billion MTN Debenture Issue A (low), Stable

DBRS has today assigned a rating of A (low) to Bell Canada’s $1 billion issuance of 3.35% Series M-25 notes (the Debentures) maturing June 18, 2019. The trend is Stable.

This debt issuance was initiated by Bell Canada on June 13, 2012, for settlement on or around June 18, 2012. The Debentures will be issued by way of supplement to Bell Canada’s Short Form Base Shelf Prospectus and Prospectus Supplement dated August 15, 2011, and reference the trust indenture dated November 28, 1997.

The net proceeds of the offering are intended to be used for general corporate purposes, including the repayment of outstanding commercial paper, and funding a portion of the cost of BCE Inc.’s acquisition of Astral Media Inc., which is expected to close in the second half of 2012.

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 Broadcasting Industry, which can be found on our website under Methodologies.