SAINT JOHN, NB, Feb. 21 /CNW/ - Bell Aliant Regional Communications, Limited Partnership ("Bell Aliant LP") is pleased to announce that it has agreed to sell, on an agency basis, an aggregate $1 billion principal amount of Medium Term Notes (the "Notes") in three tranches: $400 million principal amount of 7 year Notes to mature February 26, 2014; $300 million principal amount of 12 year Notes to mature February 26, 2019; and $300 million principal amount of 30 year Notes to mature February 26, 2037. The Notes will be issued at a discount carrying a coupon of 4.95 per cent, 5.52 per cent and 6.17 per cent,respectively.
The issues are scheduled to close on February 26, 2007. On behalf of the Agents' syndicate, RBC Capital Markets, National Bank Financial Inc. and Scotia Capital Inc. acted as co-lead managers and co-bookrunners for the offering. Proceeds from the issuances of the Notes will be used to pay down amounts owing under the $3.5 billion unsecured credit facility Bell Aliant LP has in place with a syndicate of financial institutions or, if no such amounts are owing, may be added to the general funds of Bell Aliant LP and made available for general and working capital purposes, to finance acquisitions, to finance additions to property, plant and equipment or for the retirement of other debt (which debt was incurred by Bell Aliant LP for similar purposes).
About Bell Aliant
Bell Aliant (TSX: BA.UN) is one of North America's largest regional communications providers. Through its operating entities it serves customers in six Canadian provinces with innovative information, communication and technology services including voice, data, Internet, video and value-added business solutions. Through its xwave offices, Bell Aliant also provides IT professional services in Canada and the US. Bell Aliant's 10,000 employees are committed to deliver the highest quality of customer service, choice and convenience.