Rogers Communications Inc. announced the pricing of a public offering of US$2.1 billion fixed-to-fixed rate subordinated notes and a Canadian private placement of Cdn$1.0 billion fixed-to-fixed rate subordinated notes. The net proceeds from these offerings are expected to be approximately US$2.07 billion and Cdn$989 million, respectively.
The company intends to use the net proceeds to repay certain outstanding indebtedness and/or fund a portion of the purchase price for its pending acquisition of BCE Inc.'s indirect ownership stake in Maple Leaf Sports & Entertainment Inc. Both offerings are expected to close on February 12, 2025.
This financing initiative is a key step in Rogers' strategy to manage its debt and fund its strategic priorities, including the MLSE acquisition. The successful pricing of these notes demonstrates the company's ability to access capital markets for its financial needs.
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