Canada’s largest telecoms operator, Rogers Communications has issued C$800m (US$764m) worth of bonds with a 30-year maturity.
The bonds carry a coupon of 6.11% and mature on August, 25 2040. The notes are priced at 99.904 to yield 6.117% or 250.5 bp…
Canada’s largest telecoms operator, Rogers Communications has issued C$800m (US$764m) worth of bonds with a 30-year maturity.
The bonds carry a coupon of 6.11% and mature on August, 25 2040. The notes are priced at 99.904 to yield 6.117% or 250.5 bp above the Canadian government benchmark.
The net proceeds from the offering will be C$794m (US$758m) and will be used along with cash in hand advances to fund the redemptions of US$490m of 9.625% senior notes due 2011, C$460m of 7.625% notes due 2011 and C$175m of 7.25% bonds due 2011 that Rogers had previously issued.
Closing of the offering is expected to occur on or about August 25.
The sale was handled by the Royal Bank of Canada and Toronto-Dominion Bank.
