By Cristal Cody
Prospect News, Sept. 22 - Rogers Communications Inc. announced on Wednesday that it priced C$900 million in 4.7% senior notes (Baa2/BBB//BBB) due Sept. 29, 2020.
The senior notes were sold at C$999.45 per C$1,000 principal amount, or 185.2 bps over the Canadian government benchmark bond, for a yield of 4.707% per year.
Bank of Nova Scotia and Toronto-Dominion Bank were the bookrunners. The notes were offered in Canadian provinces only.
Closing is expected on Sept. 29.
Proceeds will be used to repay outstanding advances under the company's bank credit facility and for general corporate purposes.
The Toronto-based company provides wireless voice and data communications, cable television, internet and telephone services in Canada.
| Issuer: | Rogers Communications Inc.
|
| Issue: | Senior notes
|
| Amount: | C$900 million
|
| Maturity: | Sept. 29, 2020
|
| Bookrunners: | Bank of Nova Scotia and Toronto-Dominion Bank
|
| Coupon: | 4.7%
|
| Price: | 99.945
|
| Yield: | 4.707%
|
| Spread: | 185.2 bps
|
| Trade date: | Sept. 22
|
| Settlement date: | Sept. 29
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| DBRS: BBB
|
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