C$225 Million in 10-Year Notes
Stock Symbol: MBT
WINNIPEG, May 21, 2014 /CNW/ - (TSX: MBT) Manitoba Telecom Services Inc.
(the "Company"), which includes its two primary operating subsidiaries,
MTS Inc. and Allstream Inc., today announced that it has agreed to
issue $225 million in medium term notes ("MTNs") with a ten-year term
maturing on May 27, 2024, and a coupon of 4.00 per cent. The offering
of MTNs, which is being made through a syndicate of investment dealers
co-led by BMO Capital Markets and RBC Capital Markets, is expected to
close on May 26, 2014.
"Our ongoing ability to access capital markets speaks to the strong
foundation of our business and the strength of our financial profile,"
said Wayne Demkey, Chief Financial Officer.
The net proceeds from the issuance of the MTNs will be used to repay
existing indebtedness and for general corporate purposes.
The MTNs will be issued pursuant to the Company's short form base shelf
prospectus dated September 30, 2013, as supplemented by a pricing
supplement dated May 21, 2014.
Forward-looking Statements Disclaimer
This news release includes forward-looking statements and information
(collectively, the "statements") including, but not limited to,
statements pertaining to the proposed offering of MTNs and the use of
proceeds therefrom. Forward-looking statements should be considered
carefully and undue reliance should not be placed on them. Examples of
statements that constitute forward-looking information may be
identified by words such as "believe", "expect", "project", "should",
"anticipate", "could", "target", "forecast", "intend", "plan",
"outlook", "see", "set", "pending", and other similar terms.
Factors that could cause anticipated opportunities and actual results to
differ materially include, but are not limited to, matters identified
in the "Material assumptions" section, and the "Risks and
uncertainties" section, in the Company's 2013 Annual MD&A and 2013
Annual Information Form, each of which are available on SEDAR at www.sedar.com.
Please note that forward-looking statements reflect Management's
expectations as at the date hereof. The Company disclaims any intention
or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by law.
About Manitoba Telecom Services Inc. (MTS Allstream)
MTS Allstream is one of Canada's leading national communication
solutions companies, providing innovative communications for the way
Canadians live and work today. The company has more than 100 years of
experience, with approximately 5,000 employees across Canada. MTS
Allstream's business is dynamic and consists of two operating
divisions. In Manitoba, MTS is the leading full-service
telecommunications provider for residential and business customers.
MTS's suite of services includes the latest in wireless technology,
broadband services, IPTV, voice services, home security, and an
extensive range of business solutions. Across Canada, Allstream is a
leader in IP communications and is the only national provider that
focuses exclusively on the business telecommunications market. MTS
Allstream has nearly two million customer connections spanning business
customers across Canada and residential consumers throughout the
province of Manitoba. The Company's extensive national fibre optic
network spans more than 30,000 kilometres. MTS Allstream has spent 13
consecutive years on the Jantzi Social Index for leadership in social
responsibility and is the recipient of the 2011 Governance Gavel Award
from the Canadian Coalition for Good Governance, recognizing clear and
effective public disclosure and leading governance practices. MTS
Allstream's common shares are listed on the TSX (trading symbol: MBT).
Customers, stakeholders and investors who want to learn more about MTS
Allstream are encouraged to visit: www.mtsallstream.com. For more information about MTS's products and services, please visit www.mts.ca. For more information about Allstream's products and services, please
visit www.allstream.com.
SOURCE MTS Allstream
