Debt due within one year (Tables)

12 Months Ended

Dec. 31, 2018



	NOTE	WEIGHTED AVERAGE INTEREST RATE AT DECEMBER 31, 2018		December 31, 2018	December 31, 2017	January 1, 2017
Notes payable⁽¹⁾	26	2.82	%	3,201	3,151	2,649
Loans secured by trade receivables	26	2.83	%	919	921	931
Long-term debt due within one year⁽²⁾		5.16	%	525	1,106	835
Unsecured committed term credit facility⁽³⁾				—	—	479
Net unamortized discount				—	—	(1	)
Unamortized debt issuance costs				—	—	(6	)
Total long-term debt due within one year	22			525	1,106	1,307
Total debt due within one year				4,645	5,178	4,887

(1)

Includes commercial paper of $2,314 million in U.S. dollars ($3,156 million in Canadian dollars) , $2,484 million in U.S. dollars ($3,116 million in Canadian dollars) and $1,945 million in U.S. dollars ($2,612 million in Canadian dollars) as at December 31, 2018, December 31, 2017 and January 1, 2017, respectively, which were issued under our U.S. commercial paper program and have been hedged for foreign currency fluctuations through forward currency contracts. See Note 26, Financial and capital management, for additional details.


(2)	Included in long-term debt due within one year is the current portion of finance leases of $466 million, $445 million and $435 million as at December 31, 2018, December 31, 2017 and January 1, 2017, respectively.

(3) In 2017, Bell Canada repaid $357 million in U.S. dollars (approximately $480 million in Canadian dollars) representing all of the borrowings outstanding

under its unsecured committed term credit facility. Accordingly, this credit facility was closed and the cross currency basis swap which was used to

hedge the U.S. currency exposure under such credit facility was settled. See Note 26, Financial and capital management, for additional details.

Securitized trade receivables



			NOTE	WEIGHTED AVERAGE INTEREST RATE AT DECEMBER 31, 2018		MATURITY	December 31, 2018		December 31, 2017		January 1, 2017
	Debt securities
		1997 trust indenture		3.85	%	2020-2047	14,750		14,950		13,600
		1976 trust indenture		9.54	%	2021-2054	1,100		1,100		1,100
		2011 trust indenture⁽¹⁾		4.00	%	2024	225		425		—
		2001 trust indenture⁽¹⁾					—		200		—
		2016 U.S. trust indenture ⁽²⁾		4.46	%	2048	1,569		—		—
		1996 trust indenture (subordinated)		8.21	%	2026-2031	275		275		275
	Finance leases		15	6.67	%	2019-2047	2,097		2,172		2,260
	Unsecured committed term credit facility⁽³⁾						—		—		479
	Other						308		195		188
Total debt							20,324		19,317		17,902
	Net unamortized premium						21		50		18
	Unamortized debt issuance costs						(60	)	(46	)	(41	)
	Less:
		Amount due within one year	21				(525	)	(1,106	)	(1,307	)
Total long-term debt							19,760		18,215		16,572


(1)	As part of the acquisition of MTS, on March 17, 2017, Bell Canada assumed all of MTS’ debt issued under its 2001 and 2011 trust indentures. The 2001 trust indenture was closed following the redemption in October 2018 of the remaining outstanding notes under such trust indenture.


(2)	In 2018, Bell Canada issued notes under the 2016 U.S. trust indenture for an aggregate amount of $1,150 million in U.S. dollars ($1,493 million in Canadian dollars), which have been hedged for foreign currency fluctuations through cross currency basis swaps. See Note 26 , Financial and capital management , for additional details.

(3)

In 2017, Bell Canada repaid $357 million in U.S. dollars ($480 million in Canadian dollars) representing all of the borrowings outstanding under its unsecured committed term credit facility. Accordingly, this credit facility was closed and the cross currency basis swap which was used to hedge the U.S. currency exposure under such credit facility was settled. See Note 26, Financial and capital management, for additional details.

Details of Securitized Trade Receivables

The following table provides further details on our securitized trade receivables programs.



	December 31, 2018		December 31, 2017		January 1, 2017
Average interest rate throughout the year	2.41	%	1.74	%	1.51	%
Securitized trade receivables	1,998		1,867		1,904

Summary of Total Bank Credit Facilities

The table below is a summary of our total bank credit facilities at December 31, 2018.



	TOTAL AVAILABLE	DRAWN	LETTERS OF CREDIT	COMMERCIAL PAPER OUTSTANDING	NET AVAILABLE
Committed credit facilities
Unsecured revolving credit and expansion facilities ⁽¹⁾⁽²⁾	4,000	—	—	3,156	844
Other	134	—	107	—	27
Total committed credit facilities	4,134	—	107	3,156	871
Total non-committed credit facilities	3,014	—	1,964	—	1,050
Total committed and non-committed credit facilities	7,148	—	2,071	3,156	1,921

(1)

Bell Canada’s $2.5 billion and additional $500 million revolving credit facilities expire in November 2023 and November 2019, respectively, and its $1 billion committed expansion credit facility expires in November 2021. Bell Canada has the option, subject to certain conditions, to convert advances outstanding under the additional $500 million revolving credit facility into a term loan with a maximum one-year term.


(2)	As of December 31, 2018, Bell Canada’s outstanding commercial paper included $2,314 million in U.S. dollars ($3,156 million in Canadian dollars). All of Bell Canada’s commercial paper outstanding is included in debt due within one year.