Bell raising $1 billion, part of proceeds to fund Astral Media purchase

MONTREAL – Bell Canada announced yesterday a new public offering of $1 billion of medium term debentures that it says will be used to fund some of the cost of its parent company’s pending acquisition of Astral Media. The 3.35% debentures, Series M-26, will be dated March 22, 2013 and will mature on March 22, 2023. At an issue price of $99.831 per $100 principal amount for a yield to the investor of 3.370% per annum compounded semi-annually, they will be fully and unconditionally guaranteed by BCE Inc., Bell Canada’s parent. The company says the net proceeds of this offering are...