Bell announces commencement of consent and proxy solicitation to approve amendments to the terms of its 1976 trust indenture

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[{"type":"text","content":"\n \n \n \n Bell announces commencement of consent and proxy solicitation to approve amendments to the terms of its 1976 trust indenture\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n PR Newswire\n \n \n \n \n \n This news release contains forward-looking statements. For a description of the related risk factors and assumptions, please see the section entitled \"Caution Concerning Forward-Looking Statements\" later in this news release.\n \n \n \n MONTRÉAL,\n \n Oct. 7, 2021\n \n /PRNewswire/ - Bell Canada (Bell) today announced it has commenced a solicitation of consents (the Consent Solicitation) and proxies (the Proxy Solicitation and, together with the Consent Solicitation, the Solicitation) from holders of its: (i) 10% debentures, Series EH, due\n \n November 15, 2041\n \n ; (ii) 9.7% debentures, Series EJ, due\n \n December 15, 2032\n \n ; (iii) 9.25% debentures, Series EO, due\n \n May 15, 2053\n \n ; (iv) 10% debentures, Series EU, due\n \n December 1, 2054\n \n and (v) 7% debentures, Series EZ, due\n \n September 24, 2027\n \n (collectively, the Debentures), each issued under and governed by a trust indenture dated as of\n \n July 1, 1976\n \n , as amended or supplemented (the 1976 Indenture), as of the record date of\n \n September 15, 2021\n \n (the Record Date).\n \n \n The purpose of the Solicitation is to seek approval from the holders of Debentures, providing consents and voting as a single class, to an extraordinary resolution to approve certain proposed amendments to the 1976 Indenture (the Proposed Amendments) that are designed to:\n \n \n \n align the 1976 Indenture more closely with current and generally accepted market practice in\n \n Canada\n \n for investment-grade senior unsecured debt, including the deletion of certain of the covenants of the 1976 Indenture that require Bell to meet certain financial ratio tests when issuing long-term debt;\n \n \n conform certain terms of the 1976 Indenture more closely to Bell's more recent Canadian trust indenture dated as of\n \n November 28, 1997\n \n and U.S. trust indenture dated as...

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