The group led by the Ontario Teachers’ Pension Plan has arranged to finance its purchase of BCE with $23.05 billion in bank loans and $11.3 billion in bonds, according to a filing with the Securities and Exchange Commission.

The financing, which was agreed upon before credit markets began to sour, will be provided by TD Bank, Citigroup, Deutsche Bank and Royal Bank of Scotland.

Recently, Teachers’ released a statement saying it and its partners were committed to terms of the agreement to buy the telecom firm.

BCE shareholders will vote on whether or not to accept the offer next month.

For more about the takeover battle BCE, click here to read our special section, The Rise of Private Equity.

To read the filing on the SEC’s website, click here.

To comment on this story, email craig.sebastiano@rci.rogers.com.

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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