SAINT JOHN – Bell Aliant Regional Communications announced Wednesday it has agreed to sell, on an agency basis, an aggregate $1.25 billion new medium term notes.
They will be sold in two tranches: $750 million principal amount of five year notes to mature September 26, 2011; and $500 million principal amount of 10 year notes to mature September 26, 2016.
The notes will be issued at a discount for yields to maturity of 4.72% and 5.41 %, respectively.
The issues are scheduled to close on September 25, 2006 and proceeds will be used to pay down amounts owing under the $3.5 billion unsecured credit facility Bell Aliant LP has in place with a syndicate of financial institutions or, if no such amounts are owing, may be added to the general funds of Bell Aliant LP and made available for general and working capital purposes, to finance acquisitions, to finance additions to property, plant and equipment or for the retirement of other debt.
