TORONTO, Aug. 11 /PRNewswire-FirstCall/ - Rogers
Communications Inc. ("Rogers") announced today that it has priced
an offering of $800 million aggregate
principal amount of 6.11% Senior Notes due 2040. The Senior Notes
were priced at $999.04 per
$1,000 principal amount, for an
effective yield of 6.117% per annum if held to maturity. The Senior
Notes will mature on August 25,
2040.
The net proceeds from the offering will be approximately
$794 million, which are intended to
be used, together with cash on hand and advances under our bank
credit facility, to fund the previously announced redemptions of
our US$490 million principal amount
of 9.625% Senior Notes due 2011, $460
million principal amount of 7.625% Senior Notes due 2011 and
$175 million principal amount of
7.25% Senior Notes due 2011. Closing of the offering is expected to
occur on or about August 25, 2010.
The Senior Notes will be issued by Rogers and guaranteed by its
wholly owned subsidiary, Rogers Communications Partnership.
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 30, 2009 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.
About the Company
Rogers is a diversified public Canadian communications and media
company. We are Canada's largest
provider of wireless voice and data communications services and one
of Canada's leading providers of
cable television, high-speed Internet and telephony services.
Through Rogers Media we are engaged in radio and television
broadcasting, televised shopping, magazines and trade publications,
and sports entertainment. We are publicly traded on the Toronto
Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock
Exchange (NYSE: RCI).
SOURCE Rogers Communications Inc.
Copyright . 11 PR Newswire