Rogers Communications Inc. Announces Pricing of Public Offering of US$1 billion Fixed-to-Fixed Rate Subordinated Notes and Canadian Private Placement of Cdn$600 million Fixed-to-Fixed Rate Subordinated Notes
Rogers Communications priced a US$1 billion U.S. public offering of subordinated notes in two US$500 million tranches carrying 7.150% and 7.400% coupons, both due 2057, plus a Cdn$600 million Canadian private placement of 6.000% subordinated notes also due 2057. Net proceeds are expected to be roughly US$990 million and $595 million respectively, and will be used to redeem or purchase in full or in part the 5.00% subordinated notes due 2081 and/or the 5.25% notes due 2082. Both offerings are expected to close on September 23, 2026, subject to customary conditions.
Key figures
- Maturity
- 2057
- Us tranches
- ["US$500 million of 7.150% fixed-to-fixed rate subordinated notes due 2057","US$500 million of 7.400% fixed-to-fixed rate subordinated notes due 2057"]
- Closing date
- September 23, 2026
- Cdn note coupon
- 6.000%
- Net proceeds us
- approximately US$990 million
- Use of proceeds
- redeem or purchase in full or in part the 5.00% notes due 2081 and/or the 5.25% notes due 2082
- Net proceeds cdn
- approximately $595 million
- Us notes principal
- US$1 billion
- Cdn notes principal
- $600 million
AI analysis
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