Bell Canada Renews Debt Shelf

March 20, 2018

S&C client Bell Canada renewed its debt shelf pursuant to a base prospectus filed in Canada under Canadian securities laws and a registration statement on Form F-10 filed in the United States under the Multijurisdictional Disclosure System. The renewed debt shelf allows Bell to offer up to C$4 billion of new debt securities consisting of debentures, notes and/or other unsecured evidences of indebtedness, in both Canada and the United States. The debt securities, which may be issued pursuant to either an indenture governed by Quebec law or an indenture governed by New York law, will be fully and unconditionally guaranteed by Bell's parent company, BCE Inc.

On March 26, Bell Canada priced a public offering of $750 million aggregate principal amount of 4.464% senior notes due April 1, 2048. The offering closed on March 29. The issuance was the first public offering of U.S. dollar-denominated debt securities by Bell Canada into the U.S. public market in living memory.

Bell Canada is Canada's largest communications company, providing innovative broadband wireless, TV, Internet and business communication services across the country. Bell Media is Canada's premier multimedia company with leading assets in television, radio, out of home and digital media.

The S&C team was led by Donald Crawshaw, along with Lucas Carsley, Daniel Lorme, Zachary Levine and Annie Zhou. Jeffrey Hochberg, Saul Brander and Slki Hong advised on tax matters. Precious Nwankwo advised on ERISA matters.