Rogers debt securities offer tops $2.7B

TORONTO - Rogers Communications recent issuance of debt securities to help cover the costs of its spectrum purchases generated more than it had planned.The company said Wednesday that its previously announced offering of US$1.25 billion aggregate principal amount of 4.35% senior notes due 2049 in the United States, and CDN$1.0 billion aggregate principal amount of 3.25% senior notes due 2029 in Canada generated aggregate net proceeds of CDN$2.7 billion.Rogers added that the net proceeds from these offerings will be used to fund its $1.73 billion acquisition of the 52 (out of 64) 600 MHz spectrum licenses, with the remainder used for general corporate purposes.“The...