Client news

A&O Shearman advises on Bell Canada’s USD2.25 billion hybrid notes offering

A&O Shearman advises on Bell Canada’s USD2.25 billion hybrid notes offering
Published Date
Feb 28 2025
A&O Shearman advised the underwriters in connection with Bell Canada’s registered public offering of USD1bn aggregate principal amount of its 6.875% Fixed-to-Fixed Rate Junior Subordinated Notes, Series A due 2055, and USD1.25bn aggregate principal amount of its 7.000% Fixed-to-Fixed Rate Junior Subordinated Notes, Series B due 2055, guaranteed on a junior subordinated basis by BCE Inc.

The notes were offered in the United States under the SEC’s Multijurisdictional Disclosure System for Canadian issuers. This was Bell Canada’s inaugural offering of hybrid debt securities.

Bell Canada, the country’s largest communications company based on total revenue and total combined customer connections, provides advanced broadband Internet, wireless, TV, media and business communication services.

The A&O Shearman team was led by capital markets partners Richard Alsop and Ryan Robski, capital markets associate Kazumasa Watanabe, capital markets law clerk Anush Arvind. The team also included tax partner Lorenz Haselberger, financial services regulatory partner Jennifer Morton, financial services regulatory associates Taylor Pugliese and Joshua Kim, and financial services regulatory law clerk Christopher Torikoglu.

Related capabilities