BCE DEVELOPMENT PLANS PREFERRED SHARE OFFERING
<BCE Development
Corp>, 69 pct owned by Bell Canada Enterprises Inc <BCE>, said
it filed a preliminary prospectus for an issue of cumulative
redeemable retractable class A preference shares, series I, and
the offering is expected to be made in early April.
    It did not elaborate on the amount or price of the issue.
    The company said the shares will carry a special dual
currency feature that will provide a hedge against a decline in
value of the Canadian dollar against the U.S. dollar.
    Holders will be able to elect receiving dividend payments,
paid at a set rate, in either currency.
 Reuter
