Bell Canada announces redemption price for Series M-37 debentures due June 2020
MONTRÉAL, May 21, 2019 /PRNewswire/ - Bell Canada announced on May 14, 2019 that it would redeem effective on May 24, 2019 (the "Redemption Date"), prior to maturity, all of its outstanding $400 million principal amount of 3.54% Debentures, Series M-37, due June 12, 2020 (the "Series M-37 Debentures"). Today, Bell Canada has determined the redemption price payable for the Series M-37 Debentures according to the terms of such debentures.
The redemption price for the Series M-37 Debentures must be equal to the greater of the "Canada Yield Price" and the principal amount of the Series M-37 Debentures, together in each case with accrued and unpaid interest up to, but excluding,the Redemption Date. The "Canada Yield Price", calculated today in accordance with the terms of the Series M-37 Debentures, is $1,014.021 per $1,000 of principal amount. Accordingly, the Series M-37 Debentures will be redeemed effective on the Redemption Date at a price equal to $1,014.021 per $1,000 of principal amount of debentures plus $15.809 per $1,000 of principal amount for accrued and unpaid interest up to, but excluding, the Redemption Date.
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SOURCE Bell Canada