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Bell Canada to redeem series M-22, M-26 debentures due March and April 2018

Telecommunication company Bell Canada said Sept. 29 that it will redeem series M-22 debentures due in March 2018 and series M-36 debentures due in April 2018.

The BCE Inc. subsidiary said that Oct. 30 it will redeem all of its outstanding C$1 billion principal amount of 4.40% series M-22 debentures due March 16, 2018, at a price equal to C$1,011.150 per C$1,000 of principal amount of debentures plus C$5.304 per C$1,000 of principal amount for accrued and unpaid interest up to, but excluding, the date of redemption.

Bell Canada will also redeem Oct. 9 all of its outstanding C$300 million principal amount of 4.88% series M-36 debentures due April 26, 2018, at a price equal to the greater of the Canada yield price and the principal amount of the series M-36 debentures, together in each case with accrued and unpaid interest up to, but excluding, the M-36 redemption date.

The Canada yield price refers to a price equal to the price of the series M-36 debentures calculated to provide a yield to maturity equal to the government of Canada yield plus 0.46% on the third business day prior to the date fixed for redemption.