Rogers Communications Prices $2.5B Offering, Consisting Of $1.25B 5.00% Senior Notes Due 2029 And $1.25B 5.30% Senior Notes Due 2034

Author: Benzinga Newsdesk | February 08, 2024 03:42am

Rogers Communications Inc. (TSX:RCI) (NYSE:RCI) ("RCI") announced today that it has priced a public offering of two series of US dollar senior notes with an aggregate principal amount of US$2.5 billion, consisting of US$1.25 billion of 5.00% senior notes due 2029 and US$1.25 billion of 5.30% senior notes due 2034 (collectively, the "Notes"). The net proceeds from the issuance will be approximately US$2.46 billion. RCI expects to use the net proceeds from the issuance to repay certain of its outstanding indebtedness, including a portion of the borrowings under its term loan facility used to partially fund its acquisition of Shaw Communications Inc. The sale of the Notes is expected to close on February 9, 2024.

Posted In: RCI TSX:RCI