Rogers plans to raise $1.75 billion in the States

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...