By Toni Weeks
San Diego, May 30 - Rogers Communications Inc. priced an upsized offering of C$1.1 billion of debt securities on Wednesday, according to a press release.
The deal included C$500 million of 3% senior notes due June 6, 2017 priced at 99.921 to yield 3.017% and C$600 million of 4% senior notes due June 6, 2022 priced at 99.6 to yield 4.049%.
Proceeds will be used to repay outstanding advances under Rogers' bank credit facility and for general corporate purposes, including funding some or all of Rogers' investment in a 37.5% ownership interest in Maple Leaf Sports & Entertainment.
Settlement is expected June 4.
The deal was originally expected to be at least C$800 million in size, but had been expected to be up to C$1.25 billion.
The senior notes will be guaranteed by Rogers' wholly owned subsidiary, Rogers Communications Partnership.
Rogers is a Vancouver, B.C.-based diversified Canadian communications and media company.
| Issuer: | Rogers Communications Inc.
|
| Issue: | Senior notes
|
| Amount: | C$1.1 billion
|
| Pricing date: | May 30
|
| Settlement: | June 4
|
|
|
| Five-year notes
|
| Amount: | C$500 million
|
| Maturity: | June 6, 2017
|
| Coupon: | 3%
|
| Price: | 99.921
|
| Yield: | 3.017%
|
|
|
| Ten-year notes
|
| Amount: | C$600 million
|
| Maturity: | June 6, 2022
|
| Coupon: | 4%
|
| Price: | 99.6
|
| Yield: | 4.049%
|
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