Bell Nordiq completes $326.05 million initial public offering

Date Closed: 7/03/2002

Value: $326.05 million

Bell Nordiq Income Fund, a Montreal-based unincorporated limited purpose trust created to indirectly acquire and hold partnership units of Télébec, Limited Partnership and Northern Telephone, Limited Partnership, completed an initial public offering of its units on April 23, 2002. Along with the exercise of the over-allotment option on July 3, 2002, the fund raised a total of $326.05 million. Proceeds from the financing were used by the fund to acquire a 36.6 per cent interest in Télébec, Limited Partnership and Northern Telephone, Limited Partnership, which, in turn, were formed to acquire and carry on the telecommunications services businesses previously carried on by Bell Canada's indirect, wholly owned subsidiaries, Télébec ltée and Northern Telephone Limited.

The fund and Bell Canada were also represented by BLG, with a team comprised of Frank Allen, John Godber, Anick Morin, Tammy Shulman, Manon Gauthier, Gord Raman and Daniel Westreich, and Pierre Trudeau, Catherine Guertin and Evelyn Goldfarb (real estate) and Stephen Fyfe and Craig Webster (tax).