Bell Communications issued C$1bn in medium-term sevenyear debentures priced at 99.916 with a yield of 4.41% per year.
The company said the proceeds of the debentures will be used to fund its acquisition of broadcasting group CTVglobemedia.
Regulators…
Bell Communications issued C$1bn in medium-term sevenyear debentures priced at 99.916 with a yield of 4.41% per year.
The company said the proceeds of the debentures will be used to fund its acquisition of broadcasting group CTVglobemedia.
Regulators approved the C$1.3bn deal, which Bell expects to complete in Q2.
The arrangers for the deal were BoA Merrill Lynch, RBC
Capital Markets and Scotia Capital.
Backs down on UBB
The company has backed down from its plan to introduce usage-based rates for internet wholesalers after a public outcry.
In a statement on 28 March, Bell proposed a new pay system for wholesalers called Aggregated Volume Pricing (AVP), under which wholesalers would buy network capacity based on the overall volume of usage, rather than on a per customer basis.
Opponents to BCE’s previous usage-based billing (UBB) proposal was that it would lead to wholesalers transferring these costs to consumers, who would then be charged depending on their own usage.
