Ms. Ellen Murphy reports

BELL ANNOUNCES OFFERING OF MTN DEBENTURES

BCE Inc.'s Bell Canada has arranged a public offering in Canada of $1.5-billion aggregate principal amount of medium-term-note debentures in two series pursuant to its MTN program.

The $400-million in 5.60 per cent MTN debentures, Series M-61, which are being issued pursuant to a reopening of an existing series of MTN debentures, will be dated May 24, 2024, will mature on Aug. 11, 2053, and will be issued at a price of $101.936 per $100 principal amount plus accrued and unpaid interest from and including Feb. 11, 2024, to, but excluding, May 24, 2024, in the amount of $1.58027397 per $100 principal amount to yield 5.465 per cent.

The $1.1-billion 5.15 per cent MTN debentures, Series M-63, will be dated May 24, 2024, will mature on Aug. 24, 2034, and will be issued at a price of $99.646 per $100 principal amount for a yield to maturity of 5.196 per cent.

The MTN debentures will be fully and unconditionally guaranteed by BCE. Bell Canada intends to use the net proceeds from the offering toward financing the repayment of Bell Canada's MTN debenture debt maturing in the first quarter of 2025 and general corporate purposes.

The MTN debentures are being publicly offered in all provinces of Canada through a syndicate of agents. Closing of the offering of the MTN debentures is expected to occur on May 24, 2024, subject to customary closing conditions.

The MTN debentures are being issued pursuant to a short form base shelf prospectus dated May 9, 2024, and a prospectus supplement dated May 16, 2024. Bell Canada will file a pricing supplement relating to this issue with the securities regulatory authorities in all provinces of Canada.

About Bell Canada

Bell is Canada's largest communications company (1), providing advanced broadband Internet, wireless, TV, media and business communications services. Founded in Montreal in 1880, Bell is wholly owned by BCE.

Through "Bell for better," it is investing to create a better today and a better tomorrow by supporting the social and economic prosperity of communities. This includes the "Bell Let's Talk" initiative, which promotes Canadian mental health with national awareness and anti-stigma campaigns like "Bell let's talk day" and significant Bell funding of community care and access, research, and workplace leadership initiatives throughout the country.

(1) Based on total revenue and total combined customer connections.

We seek Safe Harbor.