Bell Aliant to redeem $345 million of outstanding 4.72% medium term notes
HALIFAX,
Bell Aliant Regional Communications, Limited Partnership ("Bell Aliant LP") announced on September 8,
2010 that it would issue $350 million principal amount of medium term notes (the "Notes") and that all or
substantially all of the net proceeds would be used to make a partial redemption of the 4.72 per cent
medium term notes due September 26, 2011 (the "2011 Notes"). Today, Bell Aliant LP has completed the
issue of the Notes and has given notice that it will redeem $345 million principal amount, or 46 per cent of
the total outstanding principal amount, of the 2011 Notes on a pro rata basis on September 24, 2010 (the
"Redemption Date").
The 2011 Notes called for redemption will be redeemed at a redemption price equal to the greater of the
Canada Yield Price and their principal amount, together with accrued and unpaid interest to but excluding
the Redemption Date.
Pursuant to the terms of the 2011 Notes, the Canada Yield Price is a price equal to the price of the 2011
Notes calculated to provide a yield to maturity equal to the Government of Canada Yield plus 0.18 per cent
on the third business day prior to the Redemption Date. The Government of Canada Yield is, on any date,
the yield to maturity on such date, compounded semi-annually, which a non-callable Government of
Canada Bond would carry if issued, in Canadian dollars in Canada, at 100 per cent of its principal amount
on such date with a term to maturity equal to the remaining term to maturity of the 2011 Notes. The
Government of Canada Yield used to calculate the redemption price of the 2011 Notes will be the average
of the rates calculated by two registered Canadian investment dealers selected by Bell Aliant LP.
Forward-looking statements
This news release contains forward-looking statements concerning future events and expectations,
specifically relating to the planned use of the proceeds from the Notes issuance to redeem a portion of the
outstanding 2011 Notes. These statements describe management's expectations at September 13, 2010.
These statements are based on management's beliefs regarding future events, and are subject to risks and
uncertainties that are beyond management's control. Therefore, actual events may differ materially from
what is predicted. Assumptions made and risk factors considered in preparing our forward-looking
statements are discussed in detail in Bell Aliant's fourth quarter 2009 earnings and 2010 guidance news
release dated February 3, 2010, as well as in Bell Aliant Regional Communications Income Fund's and Bell
Aliant Regional Communications Holdings, Limited Partnership's 2009 annual management's discussion
and analysis (MD&A) and annual information forms, and their first and second quarter 2010 MD&As, which
are available at www.bellaliant.ca or at www.sedar.com. The planned use of proceeds from issuance of the
Notes to redeem a portion of the outstanding 2011 Notes is also subject to the satisfaction of all
requirements to enable a partial redemption of the 2011 Notes. All forward-looking statements in this news
release are qualified by these cautionary statements, and there can be no assurance that the results or
events predicted will be realized. Except as may be required by Canadian securities laws, Bell Aliant
disclaims any intention and assumes no obligation to update or revise any forward-looking statement even
if new information becomes available, as a result of future events or for any other reason. Readers should
not place undue reliance on any forward-looking statements.
About Bell Aliant
Bell Aliant (TSX: BA.UN) is one of North America's largest regional communications providers and the first
company in Canada to cover an entire city with fibre-to-the-home (FTTH) technology with its FibreOP(TM)
services. Through its operating entities it serves customers in six Canadian provinces with innovative
information, communication and technology services including voice, data, Internet, video and value-added
business solutions. Through its xwave offices, Bell Aliant also provides IT professional services and
advanced technology solutions. Bell Aliant's employees are committed to deliver the highest quality of
customer service, choice and convenience. More information can be found at www.bellaliant.ca.
%SEDAR: 00023938EF
For further information: Media Relations: Alyson Queen, 866-696-6700,
alyson.queen@bellaliant.ca;
Investor Relations: Zeda Redden, 877-487-5726, zeda.redden@bellaliant.ca
SOURCE Bell Aliant