Canada's Rogers to sell $2.2 billion in bonds to repay debt
Reuters
Published Sep 07, 2023 08:35PM ET
(Reuters) - Canada's Rogers (NYSE:ROG) Communications said on Thursday it is pricing in a C$3 billion ($2.19 billion) bond offering to repay short-term debt and other borrowings.
Rogers is selling its Canadian dollar-denominated senior bond in four parts, the telecoms company said in a statement, adding that the longest tranche of the offering, due for 2033, is priced at C$1 billion of 5.9% senior bonds.
In March, Canada approved Rogers' buyout of Shaw Communications (NYSE:SJR) after securing binding commitments to pay financial penalties if it failed to create new jobs and invest to expand its network.
($1 = 1.3685 Canadian dollars)
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Written By: Reuters
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