Cable / Telecom News

Rogers to raise $1 billion


TORONTO - Rogers Communications is hoping to raise close to $1 billion. The company has priced an offering of $1.0 billion of 5.80% senior notes, priced at $997.67 per $1,000 principal amount, for an effective yield of 5.841% per annum if held to maturity in May, 2016. The net proceeds from the offering, estimated to be approximately $993 million, are intended to be used for “general corporate purposes”, including the repayment of outstanding debt under Rogers' bank credit facility. The senior notes are being offered in each of the provinces of Canada through a syndicate of agents, and Rogers said that...