Canadian telco Rogers Communications announced yesterday that it had priced a C$1.85bn senior notes offering.
This will consist of C$1.45bn of senior notes due in 2021 and C$400m of senior notes due in 2041.
The 2021 senior notes are priced at C$999.54…
Canadian telco Rogers Communications announced yesterday that it had priced a C$1.85bn senior notes offering.
This will consist of C$1.45bn of senior notes due in 2021 and C$400m of senior notes due in 2041.
The 2021 senior notes are priced at C$999.54 for a C$1,000 principal amount, with a yield of 5.346% if held to maturity.
The 2041 notes priced at par, with a yield of 6.56% if held to maturity.
The company said that it intended to use the proceeds of the offering to fund the redemption of US$350m of 7.875% senior notes due in 2012 and US$470m of 7.25% senior notes due in 2012.
It said that it also intended to use the proceeds to repay outstanding advances under its bank credit facility, as well as for general corporate purposes.
The company expects to close the transaction on or before 21 March.
The agents for the offering were RBC Dominion Securities, Scotia Capital, TD Securities, BMO Nesbitt Burns and CIBC World Markets.
