Bell Aliant Preferred Equity is seeking to raise a total of about $250 million in a sale of cumulative rate reset preferred shares. The subsidiary of Internet access provider, Bell Aliant, will issue 10 million shares at a price of $25 per share. The firm will use the net proceeds from the offering to fund a voluntary $200 million contribution to its pension plans and for general corporate purposes. The lead underwriters for the sale are BMO Capital Markets and Scotia Capital.

Click here for the release from Bell Aliant.