Rogers Communications Inc. (“Rogers”) announced
today that it has priced an offering of $1.0 billion of 5.80% Senior Notes due
2016. The Senior Notes were priced at $997.67 per $1,000 principal amount, for
an effective yield of 5.841% per annum if held to maturity. The Senior Notes
will mature on May 26, 2016.
The net proceeds from the offering will be approximately $993 million,
which are intended to be used for general corporate purposes, including the
repayment of outstanding debt under Rogers’ bank credit facility. Closing of
the offering is expected to occur on or about May 26, 2009. The Senior Notes
will be issued by Rogers and guaranteed by two of its wholly owned
subsidiaries, Rogers Wireless Partnership and Rogers Cable Communications Inc.
The Senior Notes are being offered in each of the provinces of Canada
through a syndicate of agents. Rogers will be filing a final prospectus
supplement relating to the offering of the Senior Notes with the securities
regulatory authorities in each of the provinces of Canada. Copies of the final
prospectus supplement and the accompanying short form base shelf prospectus
dated November 8, 2007 may be obtained over the Internet at the Canadian
Securities Administrators’ website at www.sedar.com.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction. The
securities being offered have not been approved or disapproved by any
regulatory authority nor has any such authority passed upon the accuracy or
adequacy of the short form base shelf prospectus or the prospectus supplement.
This news release is not an offer for sale within the United States of
any debt or other securities of Rogers. Securities of Rogers, including any
offering of its debt securities, may not be offered or sold in the United
States absent registration under U.S. securities laws or unless exempt from
registration under such laws. The offering of Rogers described in this news
release has not been and will not be registered under U.S. securities laws,
and accordingly, any offer or sale of these securities may be made only in a
transaction exempt from registration.