EX-99.5 6 d41054dex995.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: August 6, 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 June 30, 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 six months ended June 30, 2020. On June 1, 2020, BCE announced that it had entered into an agreement to sell substantially all of its data centre operations. As a result, we have reclassified amounts related to the announced sale for the previous periods to discontinued operations in the income statements to make them consistent with the presentation for the current period.

For the periods ended June 30:

 

    

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     2020     2019     2020     2019     2020     2019     2020     2019     2020     2019  
     
Three
months
 
 
   
Three
months
 
 
   
Six
months
 
 
   
Six
months
 
 
   
Three
months
 
 
   
Three
months
 
 
   
Six
months
 
 
   
Six
months
 
 
   
Three
months
 
 
   
Three
months
 
 
   
Six
months
 
 
   
Six
months
 
 
   
Three
months
 
 
   
Three
months
 
 
   
Six
months
 
 
   
Six
months
 
 
   
Three
months
 
 
   
Three
months
 
 
   
Six
months
 
 
   
Six
months
 
 

Operating revenues

                            5,355       5,890       10,995       11,579                               (1     (1     (1     (1     5,354       5,889       10,994       11,578  

Net earnings from continuing operations attributable to owners

    267       792       980       1,561       476       857       1,172       1,621       37       34       71       68       (513     (891     (1,243     (1,689     267       792       980       1,561  

Net earnings attributable to owners

    271       799       989       1,577       480       864       1,181       1,637       37       34       71       68       (517     (898     (1,252     (1,705     271       799       989       1,577  

As at June 30, 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
        
              Jun. 30,       Dec. 31,                                Jun. 30,       Dec. 31,                              Jun. 30,       Dec. 31,                                Jun. 30,       Dec. 31,                                  Jun. 30,       Dec. 31,                       
            2020     2019            2020     2019            2020     2019            2020     2019            2020     2019         

Total Current Assets

      653       651         10,173       7,687         290       420         (3,654     (3,238       7,462       5,520    

Total Non-current Assets

      23,938       23,745         47,111       48,030         38       39         (17,358     (17,188       53,729       54,626    

Total Current Liabilities

      3,689       3,219         8,015       9,721         85       75         (3,654     (3,238       8,135       9,777    

Total Non-current Liabilities

            113       103               31,209       28,254               14       29               583       575               31,919       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.