Canadian telco Rogers Communications has priced a US$1.5bn offering of senior notes.
The issue is split between two tranches. The first, for US$850m, priced at 99.813 and has a coupon of 4.1% while the second, for US$650m, priced at 99.401 and carries a…
Canadian telco Rogers Communications has priced a US$1.5bn offering of senior notes.
The issue is split between two tranches. The first, for US$850m, priced at 99.813 and has a coupon of 4.1% while the second, for US$650m, priced at 99.401 and carries a 5.45% coupon.
The US$850m tranche matures in 2023 and the US$650m tranche in 2043.
The joint book running managers on the deal are Citigroup, JP Morgan, BofA Merrill Lynch, BMO Capital Markets and Scotiabank.
In a statement Rogers said the proceeds would be used for general corporate purposes, without elaborating. The sale is set to close on 2 October.
Rogers last tapped the debt markets six months ago when it raised US$1bn in a two-tranche offering, again with maturities in 2023 and 2043.
Earlier this week it was revealed that the company will take part in Canada’s 700 MHz spectrum auction in January, along 15 other local companies. The so-called “beachfront” frequencies are ideal for deploying 4G.
The Toronto-based operator also recently announced Guy Laurence as the successor to its current CEO Nadir Mohamed. Laurence will take over the role in December after leaving his position as Vodafone’s CEO for the UK.