Rogers Communications Inc. Announces Pricing of US$2.5 billion Offering of US Dollar Senior Notes
February 07 2024 - 8:20PM
Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI)
(“RCI”) announced today that it has priced a public offering of two
series of US dollar senior notes with an aggregate principal amount
of US$2.5 billion, consisting of US$1.25 billion of 5.00% senior
notes due 2029 and US$1.25 billion of 5.30% senior notes due 2034
(collectively, the “Notes”). The net proceeds from the
issuance will be approximately US$2.46 billion. RCI expects to
use the net proceeds from the issuance to repay certain of its
outstanding indebtedness, including a portion of the borrowings
under its term loan facility used to partially fund its acquisition
of Shaw Communications Inc. The sale of the Notes is expected to
close on February 9, 2024.
The Notes will be issued pursuant to a
prospectus supplement and accompanying prospectus filed with the
SEC as part of an effective shelf registration statement on
Form F-10. These documents are available at no charge by
visiting EDGAR on the SEC website at www.sec.gov. A copy of the
prospectus and prospectus supplement relating to the offering of
the Notes may also be obtained from RCI by contacting Investor
Relations as described below.
The Notes are not being offered in Canada or to
any resident of 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.
About Rogers Communications
Inc.
Rogers is Canada’s leading wireless, cable and
media company that provides connectivity and entertainment to
Canadian consumers and businesses across the country. Rogers shares
are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and
RCI.B) and on the New York Stock Exchange (NYSE: RCI).
Caution Concerning Forward-Looking
Statements
This press release may include “forward‐looking
information” and “forward-looking statements” within the meaning of
applicable securities laws (collectively, “forward-looking
information”). RCI cautions that forward‐looking information
is inherently subject to change and uncertainty and that actual
results may differ materially from those expressed or implied by
the forward‐looking information. A comprehensive discussion of
risks associated with forward-looking information can be found in
RCI’s public reports and filings, including the risks outlined in
the section entitled “Risks and Uncertainties Affecting our
Business” in its management’s discussion and analysis of its
audited consolidated financial statements as at and for the year
ended December 31, 2022, and in the section entitled “Updates to
Risks and Uncertainties Affecting our Business” in its management’s
discussion and analysis of its unaudited interim condensed
consolidated financial statements as at and for the three and nine
months ended September 30, 2023, which are available under its
profile at www.sedarplus.ca, and are also available at www.sec.gov,
and in the section entitled “Risk Factors” in the Prospectus.
RCI is under no obligation to, and expressly disclaims any such
obligation to, update or alter its forward-looking statements,
whether as a result of new information, future events, or
otherwise.
For more information:
Rogers Communications media contactSarah
Schmidt647.643.6397media@rci.rogers.com
Rogers Communications investment community
contactPaul
Carpino647.435.6470paul.carpino@rci.rogers.com
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