Rogers Communications Prices Offering Of Debt Securities - Quick Facts

(RTTNews) - Rogers Communications Inc. (RCI, RCI-B.TO) announced that it has priced US$750 million of 5.00% senior notes due 2044. The company estimates net proceeds from the issuance of debt securities to be about US$736 million.

Additionally, Rogers Communications also priced a Canadian offering of $1.25 billion of debt securities. This consists of $250 million of floating rate senior notes due 2017, $400 million of 2.80% senior notes due 2019, and $600 million of 4.00% senior notes due 2024. The company expects net proceeds from the issuance of Canadian Notes to be about $1.24 billion.

The company expects to use the proceeds from the offerings, together with available cash on hand and other debt funding, to fund the C$3.29 billion cash investment required to acquire twenty year licenses for two blocks of contiguous, paired lower 700 MHz band spectrum located in the key rural and urban locations across Canada.

The company expects to close the sale of the US dollar debt securities and Canadian Notes on March 10, 2014.