Canada’s Rogers to sell $2.2 billion in bonds to repay debt
© Reuters. FILE PHOTO: The Rogers Building, the green-topped corporate campus of Canadian media conglomerate Rogers Communications is seen in downtown Toronto, Ontario, Canada July 9, 2022. REUTERS/Chris Helgren/File Photo
(Reuters) – Canada’s Rogers (NYSE:) 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:) 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)