On May 11, 2023, Bell Canada completed an offering of US$850 million (approximately C$1.14 billion) of 5.100% Series US-8 Notes due 2033. The notes are unconditionally guaranteed by BCE Inc. and rank as senior unsecured obligations. Interest on the notes is payable semi-annually, commencing November 11, 2023. The offering raised net proceeds of approximately US$843.1 million (approximately C$1.13 billion), which Bell Canada intends to use for the repayment of short-term debt and general corporate purposes.

The joint book-running managers for the offering were BMO Capital Markets, Citigroup, TD Securities, Wells Fargo Securities, BofA Securities, and CIBC Capital Markets. Co-managers included Desjardins Capital Markets, Mizuho, National Bank of Canada Financial Markets, RBC Capital Markets, Scotiabank, SMBC Nikko, and Casgrain & Company Limited.

Legal counsel to Bell Canada included Stikeman Elliott LLP (Canada) and Sullivan & Cromwell LLP (U.S.), while the underwriters were represented by McCarthy Tétrault LLP (Canada) and Shearman & Sterling LLP (U.S.).