BCE (BCE) unit Bell Canada said late Wednesday it is offering $2.25 billion in fixed-to-fixed rate junior subordinated notes in two series.
The company said the $1 billion series A notes, due 2055, will initially bear a 6.875% annual interest rate, resetting every five years starting in 2030.
The $1.25 billion series B notes, due 2055, will initially carry a 7% interest rate, resetting every five years starting in 2035.
Proceeds from the offering, expected to close on Feb. 18, will be used for repurchasing, redeeming or repaying senior debt and other corporate purposes.
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