Rogers Communications offers fixed-rate senior notes due 2029, 2034

By Marisa Wong

Los Angeles, Feb. 7 – Rogers Communications Inc. plans to price fixed-rate senior notes in two tranches due 2029 and 2034, according to a supplement filed with the Securities and Exchange Commission.

The notes will feature an optional make-whole call, followed by an optional par call.

The notes will also be callable in whole at any time if certain changes involving Canadian withholding taxes occur.

In addition, the notes will be putable at 101 upon a change of control or decline in credit rating.

BofA Securities, Inc., Citigroup Global Markets Inc., Mizuho Securities USA LLC, MUFG Securities Americas Inc., Scotia Capital (USA) Inc. and SMBC Nikko Securities America, Inc. are the joint bookrunners.

Bank of New York Mellon is the trustee.

Davies Ward Phillips & Vineberg LLP will act as the issuer’s Canadian counsel and Cravath, Swaine & Moore LLP as its U.S. counsel. McCarthy Tetrault LLP is Canadian counsel to the underwriters, and Skadden, Arps, Slate, Meagher & Flom LLP is U.S. counsel to the underwriters.

Proceeds will be used to repay some of the company’s outstanding debt, including a portion of the borrowings under its term loan facility that was used to partially fund its acquisition of Shaw Communications Inc.

Rogers Communications is a Toronto-based communications and media company.

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