EX-99.5 6 d916938dex995.htm BELL CANADA UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION BELL CANADA UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION

Exhibit 99.5

NOTICE OF RELIANCE

SECTION 13.4 OF NATIONAL INSTRUMENT 51-102

CONTINUOUS DISCLOSURE OBLIGATIONS

 

To:

Alberta Securities Commission

British Columbia Securities Commission

Manitoba Securities Commission

Financial and Consumer Services Commission, New Brunswick

Office of the Superintendent of Securities, Newfoundland and Labrador

Nova Scotia Securities Commission

Ontario Securities Commission

Office of the Superintendent of Securities, Prince Edward Island

Autorité des marchés financiers

Financial and Consumer Affairs Authority of Saskatchewan

Toronto Stock Exchange

Notice is hereby given that Bell Canada relies on the continuous disclosure documents filed by BCE Inc. pursuant to the exemption from the requirements of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”) provided in Section 13.4 of NI 51-102.

The continuous disclosure documents of BCE Inc. can be found for viewing in electronic format at www.sedar.com.

Attached to this notice and forming part thereof is the consolidating summary financial information for BCE Inc. as required by Section 13.4 of NI 51-102.

 

Dated: May 7, 2020

   
  

BELL CANADA

  

By:

  

(signed) Thierry Chaumont        

  

Name:

  

Thierry Chaumont

  

Title:

   Senior Vice-President, Controller and Tax

 

LOGO

 

  BELL CANADA

 

UNAUDITED SELECTED SUMMARY FINANCIAL INFORMATION (1)

For the periods ended March 31, 2020 and 2019

(in millions of Canadian dollars)

BCE Inc. fully and unconditionally guarantees the payment obligations of its 100% owned subsidiary Bell Canada under the public debt issued by Bell Canada. Accordingly, the following summary financial information is provided by Bell Canada in compliance with the requirements of section 13.4 of National Instrument 51-102 (Continuous Disclosure Obligations) providing for an exemption for certain credit support issuers. The tables below contain selected summary financial information for (i) BCE Inc. (as credit supporter), (ii) Bell Canada (as credit support issuer) on a consolidated basis, (iii) BCE Inc.’s subsidiaries, other than Bell Canada, on a combined basis, (iv) consolidating adjustments, and (v) BCE Inc. and all of its subsidiaries on a consolidated basis, in each case for the periods indicated. Such summary financial information for BCE Inc. and Bell Canada and all other subsidiaries is intended to provide investors with meaningful and comparable financial information about BCE Inc. and its subsidiaries. This summary financial information should be read in conjunction with BCE Inc.’s audited consolidated financial statements for the year ended December 31, 2019 and the unaudited consolidated interim financial report for the three months ended March 31, 2020.

For the periods ended March 31:

      BCE INC.
(“CREDIT SUPPORTER”)(2) 		          BELL CANADA CONSOLIDATED
(“CREDIT SUPPORT ISSUER”)		         

SUBSIDIARIES OF BCE INC.

OTHER THAN BELL CANADA(3) 

    CONSOLIDATING
ADJUSTMENTS(4) 		    BCE INC.
CONSOLIDATED
         2020          2019                               2020          2019                                2020          2019                     2020          2019                     2020          2019      

Operating revenues

        –          –                          5,680          5,734                             –          –                        –          –                      5,680          5,734      

Net earnings from continuing operations attributable to owners

        718          778                   701          773                    34          33               (735)          (806)               718          778    

Net earnings attributable to owners

        718          778                               701          773                                34          33                     (735)          (806)                     718          778      

 

As at March 31, 2020 and December 31, 2019, respectively:

 

  
 
     

BCE INC.

(“CREDIT SUPPORTER”)(2) 

    BELL CANADA CONSOLIDATED
(“CREDIT SUPPORT ISSUER”)		          SUBSIDIARIES OF BCE INC.
OTHER THAN BELL CANADA(3) 		    CONSOLIDATING
ADJUSTMENTS(4) 		    BCE INC.
CONSOLIDATED
        

 Mar. 31,

2020 

  

 

       

 Dec. 31,

2019 

  

 

                            

 Mar. 31,

2020 

  

 

       

 Dec. 31,

2019 

  

 

                             

 Mar. 31,

2020 

  

 

       

 Dec. 31, 

2019  

  

 

                  
 Mar. 31,
2020 		  
 		       
 Dec. 31,
2019 		  
 		                  
 Mar. 31,
2020 		  
 		       
 Dec. 31,
2019 		  
 		    

Total Current Assets

        579          651                   10,732          7,687                    451          420               (3,454)          (3,238)               8,308          5,520    

Total Non-current Assets

        25,943          23,745                   50,596          48,030                    39          39               (19,371)          (17,188)               57,207          54,626    

Total Current Liabilities

        3,394          3,219                   9,395          9,721                    79          75               (3,454)          (3,238)               9,414          9,777    

Total Non-current Liabilities

        44          103                               32,034          28,254                                22          29                     577          575                     32,677          28,961      

 

(1) 

The summary financial information is prepared in accordance with International Financial Reporting Standards (IFRS) and is in accordance with generally accepted accounting principles issued by the Canadian Accounting Standards Board for publicly-accountable enterprises.

 

(2) 

This column accounts for investments in all subsidiaries of BCE Inc. under the equity method.

 

(3) 

This column accounts for investments in all subsidiaries of BCE Inc. (other than Bell Canada) on a consolidated basis.

 

(4) 

This column includes the necessary amounts to eliminate the intercompany balances between BCE Inc., Bell Canada and other subsidiaries and other adjustments to arrive at the information for BCE Inc. on a consolidated basis.