Rogers Communications Inc. (RCI, RCI-A.TO, RCI-B.TO) announced that it has priced an offering of $1.0 billion of debt securities, consisting of $500 million aggregate principal amount of 5.38% Senior Notes due 2019 and $500 million aggregate principal amount of 6.68% Senior Notes due 2039. The ten year Senior Notes due 2019 were priced at $999.31 per $1,000 principal amount, for an effective yield of 5.389% per annum if held to maturity and the thirty year Senior Notes due 2039 were priced at $998.97 per $1,000 principal amount, for an effective yield of 6.688% per annum if held to maturity.
The net proceeds from the offering will be approximately $993 million, which are intended to be used for general corporate purposes, including to pay the cost for the intended redemption of all of the US$400 million principal amount of our 8.00% Senior Subordinated Notes due 2012. Closing of the offering is expected to occur on or about November 4, 2009.
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