Rogers Communications (TSX: RCI.B) announced on Thursday the pricing of its private notes offering. The communications giant is aiming to raise US$550 million in aggregate principal amount.
The subordinated notes will carry 5.25% fixed-to-fixed rate and will be due in 2082.
The company said it plans to use the net proceeds from the offering to repay a portion of its senior notes maturing this year, as well as the short-term borrowings that funded the acquisition of 3500 MHz spectrum licenses in 2021.
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The offering is expected to close on February 11, 2022, subject to customary closing conditions.
The Canadian media conglomerate recently reported its 2021 financials, toplined by an annual service revenue of $12.53 billion. It estimates 4%-6% increase in revenue for 2022.
Rogers Communications Class B Shares last traded at $65.28 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
One Response
They were surprised to see this honestly as this price was something not expected. Such efforts can be made by them only as they have been doing this recently. I hope it is now people will be digging out their lawns and starting gardening.