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Bell Announces Offering Of MTN Debentures

Bell Canada (Bell) today announced the public offering in Canada of Cdn $1.0 billion aggregate principal amount of MTN Debentures in two series pursuant to its medium term notes (MTN) program.

The Cdn $600 million 5.15% MTN Debentures, Series M-60, will be dated August 11, 2023, will mature on November 14, 2028 and will be issued at a price of Cdn $99.917 per $100 principal amount for a yield to maturity of 5.170%. The Cdn $400 million 5.60% MTN Debentures, Series M-61, will be dated August 11, 2023, will mature on August 11, 2053 and will be issued at a price of Cdn $99.726 per $100 principal amount for a yield to maturity of 5.619%. The MTN Debentures will be fully and unconditionally guaranteed by BCE Inc. Bell Canada intends to use the net proceeds of this offering for the repayment of short-term debt and for general corporate purposes.

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The MTN Debentures are being publicly offered in all provinces of Canada through a syndicate of agents. Closing of the offering of these MTN Debentures is expected to occur on August 11, 2023, subject to customary closing conditions.

This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful. The MTN Debentures have not been and will not be registered under the U.S. Securities Act of 1933, as amended (U.S. Securities Act), or any U.S. state securities laws and may not be offered or sold in the United States or to or for the account or benefit of U.S. persons (as defined in Regulation S under the U.S. Securities Act).

The MTN Debentures are being issued pursuant to a short form base shelf prospectus dated March 7, 2022 and a prospectus supplement dated May 19, 2022. Bell Canada will file a pricing supplement relating to this issue with the securities regulatory authorities in all provinces of Canada.

About Bell

Bell is Canada’s largest communications company1, providing advanced broadband wireless, TV, Internet, media and business communication services throughout the country. Founded in Montréal in 1880, Bell is wholly owned by BCE Inc. To learn more, please visit Bell.ca or BCE.ca.

Through Bell for Better, we are investing to create a better today and a better tomorrow by supporting the social and economic prosperity of our communities with a commitment to the highest environmental, social and governance (ESG) standards. This includes the Bell Let’s Talk initiative, which promotes Canadian mental health with national awareness and anti-stigma campaigns like Bell Let’s Talk Day and significant Bell funding of community care and access, research and workplace leadership initiatives throughout the country. To learn more, please visit Bell.ca/LetsTalk.

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