By Cristal Cody
Tupelo, Miss., April 25 – Rogers Communications Inc. provided additional details of its previously reported C$1 billion sale of 3.25% 10-year senior notes in a final term sheet.
The notes due May 1, 2029 (Baa1/BBB+/BBB+) priced on Tuesday at 99.746 to yield 3.28%.
CIBC World Markets Corp., RBC Dominion Securities Inc. and Scotia Capital Inc. were the bookrunners.
The notes are guaranteed by Rogers Communications Canada Inc.
Rogers Communications also sold a dollar-denominated offering of $1.25 billion 4.35% senior notes due May 1, 2049 on Tuesday at 99.667 to yield 4.37%, or a Treasuries plus 140 basis points spread.
Proceeds from both deals will be used for general corporate purposes.
Rogers Communications is a Toronto-based communications and media company.
| Issuer: | Rogers Communications Inc.
|
| Guarantor: | Rogers Communications Canada Inc.
|
| Amount: | C$1 billion
|
| Description: | Senior notes
|
| Maturity: | May 1, 2029
|
| Bookrunners: | CIBC World Markets Corp., RBC Dominion Securities Inc. and Scotia Capital Inc.
|
| Co-managers: | BMO Nesbitt Burns Inc., MUFG Securities (Canada), Ltd., National Bank Financial Inc., TD Securities Inc., Citigroup Global Markets Canada Inc. and Wells Fargo Securities Canada, Ltd.
|
| Coupon: | 3.25%
|
| Price: | 99.746
|
| Yield: | 3.28%
|
| Call feature: | Make-whole call before Feb. 1, 2029 at greater of par or Treasuries plus 38 bps; thereafter at par
|
| Change-of-control put: | 101%
|
| Trade date: | April 23
|
| Settlement date: | April 30
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | Canada
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