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BELL CANADA ANNOUNCES PRIVATE PLACEMENT OF DEBENTURES AND REDEMPTION OF FIRST MORTGAGE BONDS, SERIES BA AND BH

 BELL CANADA ANNOUNCES PRIVATE PLACEMENT OF DEBENTURES AND
 REDEMPTION OF FIRST MORTGAGE BONDS, SERIES BA AND BH
 MONTREAL, Aug. 21 /PRNewswire/ -- Bell Canada today announced the private placement of $50 million principal amount of debentures in Canada. The 7.30 percent Debentures, Series EN, will mature on Sept. 18, 1997, and will be offered at a price of 101.84 to yield 6.86 percent. The issue is underwritten by Burns Fry Limited and is expected to be completed by Sept. 17, 1992.
 The proceeds of the issue of the Series EN debentures will be used to redeem, prior to maturity, all of Bell Canada's $50 million principal amount of first mortgage 8 percent bonds, Series BA, due 1997 at a price equal to 100.375 percent of the principal amount plus accrued interest.
 Bell Canada has also elected to redeem, prior to maturity, all of its approximately $1 million outstanding principal amount of first mortgage 10-1/2 percent bonds, Series BH, due 1994 at a price equal to 100.55 percent of the principal amount plus accrued interest.
 A formal notice of redemption will be mailed to all registered holders of Series BA and Series BH bonds and published in Canadian newspapers in the near future.
 Bell Canada, the largest Canadian telecommunications operating company, markets a full range of state-of-the-art products and services to more than 7 million business and residence customers in Ontario and Quebec.
 Bell Canada is a member of Stentor -- an alliance of Canada's major telecommunications companies.
 -0- 8/21/92
 /CONTACT: Gerry Lipnowski, corporate public relations of Bell Canada, 514-870-0343/
 (BC.) CO: Bell Canada ST: Quebec IN: TLS SU:


PS -- NY073 -- 2306 08/21/92 17:15 EDT
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Publication:PR Newswire
Date:Aug 21, 1992
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