Canadian triple play operator Bell Aliant is selling a C$150m floating rate bond which will mature in 2016.
The notes carry a coupon equal to local benchmark CDOR, to be set quarterly, plus 0.53%.
RBC Capital Markets and National Bank Financial are…
Canadian triple play operator Bell Aliant is selling a C$150m floating rate bond which will mature in 2016.
The notes carry a coupon equal to local benchmark CDOR, to be set quarterly, plus 0.53%.
RBC Capital Markets and National Bank Financial are acting as lead co-managers and bookrunners for the offering. Bell will use the proceeds to reduce its existing debt.
The offering followed a shelf prospectus filed with Canada’s securities regulator at the start of the month, in which Bell signalled its intention to raise up to C$1bn over the next 25 months.
The New Brunswick-based telco last hit the bond market in July 2013, raising C$400m by selling 3.54% paper due 2020.
Bell Aliant is 44.06%–owned by Bell Canada and is controlled by the incumbent. It offers broadband, fixed-line telephony and cable television in eastern Canada.
