Canadian telecom company, Bell Canada, has raised $1.03 billion in a sale of medium term debentures. The debentures, which carry a coupon rate of 4.04%, will be due on March 16, 2018. The company may use the net proceeds from the offering to finance its acquisition of CTVglobemedia. The sale is expected to be completed early in the second quarter of 2011. The joint book-running managers for the sale were the investment dealer arms of Bank of America Merrill Lynch, Royal Bank of Canada and Bank of Nova Scotia, adds Reuters.
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