Rogers Communications Inc. (“RCI”) has closed its previously announced US$1,750,000,000 underwritten public offering of debt securities, consisting of US$1,400,000,000 aggregate principal amount of 6.80% senior notes due 2018 and US$350,000,000 aggregate principal amount of 7.50% senior notes due 2038. The net proceeds from the issuance of the debt securities are 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 debt securities are issued by RCI and guaranteed by two of its wholly owned subsidiaries, Rogers Wireless Partnership (“Wireless”) and Rogers Cable Communications Inc. (“Cable”).
The debt securities are not being offered in Canada or to any resident in Canada. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.