Bell Canada sells C$1 billion of debt in two parts-term sheet
(Reuters) - Bell Canada on Thursday sold C$1 billion ($952 million) of medium-term debentures in two parts, according to a term sheet seen by Reuters.
The company sold C$400 million ($381 million) of Series M-28 Debentures, which are due September 10, 2018. They have a coupon rate of 3.50 percent and were priced at 99.941 to yield 3.513 percent or 137 basis points over the Canadian government benchmark.
Bell Canada also sold C$600 million ($571 million) of Series M-29 Debentures due September 10, 2023, which have a coupon rate of 4.70 percent. This issue was priced at 99.897 to yield 4.713 percent or 188 basis points over the Canadian government benchmark.
The investment dealer arms of Royal Bank of Canada, Bank of America Merrill Lynch, and Toronto-Dominion Bank were the bookrunning managers of the sale.
(Reporting by Pam Niimi, editing by G Crosse)
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