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Rogers Communications Raises C$2B Via Private Debt Offering

Rogers Communications Inc (NYSE: RCI) priced C$2 billion 5.0% fixed-to-fixed rate subordinated notes due 2081 in a private Canadian offering. The net proceeds from the note issue will be C$1.98 billion.

byAnusuya Lahiri

December 9, 2021

1 minute read

Rogers Communications Inc (NYSE:RCI) priced C$2 billion 5.0% fixed-to-fixed rate subordinated notes due 2081 in a private Canadian offering. The net proceeds from the note issue will be C$1.98 billion.
RCI will utilize the proceeds to fund a portion of the cash investment required to acquire the 3500 MHz spectrum licenses awarded following the ISED’s spectrum auction earlier this year.
The sale of the Notes will likely close on December 17.
Rogers is a wireless service provider in Canada, with more than 10 million subscribers, equating to one-third of the total Canadian market.
Rogers held C$15.2 billion in long-term debt as of September 30.
Price Action: RCI shares traded lower by 0.22% at $46.35 in the premarket session on the last check Thursday.