Bell looks to raise $1B through debenture offer

MONTREAL – Bell Canada announced the public offering of $1 billion worth of medium term debentures to pre-fund its debt repayments. The debentures, which will be dated June 29, 2009 and mature on June 30, 2014, will be issued for $99.842 for a yield to the investor of 4.886% compounded semi-annually. Bell Canada parent BCE Inc. will “fully and unconditionally” guarantee the debentures, the press release read. A prospectus supplement to the short form base shelf prospectus dated June 13, 2007, will be filed with the various securities regulatory authorities in all of the provinces of Canada. Moody's Investors Service gave...