TORONTO – Rogers Communications said today that it has priced a US$1.75 billion underwritten public offering of debt securities, consisting of US$1.4 billion aggregate principal amount of 6.8% senior notes due 2018 and US$350 million aggregate principal amount of 7.5% senior notes due 2038.
The net proceeds from the issuance of the debt securities will be approximately US$1.73 billion, which are expected to be used for general corporate purposes, including the repayment of a portion of RCI’s outstanding debt. Pending any such use, RCI may invest the net proceeds in bank deposits and short-term marketable securities. The sale of the debt securities is expected to close on August 6, 2008.
The debt securities will be issued by RCI and guaranteed by Rogers Wireless and Rogers Cable. Citi and J.P. Morgan Securities Inc. are joint book-running managers for the offering.
The debt securities are not being offered in Canada or to any resident in Canada.
