- Rogers Communications Inc RCI priced C$2 billion 5.0% fixed-to-fixed rate subordinated notes due 2081 in a private Canadian offering. The net proceeds from the note issue will be C$1.98 billion.
- RCI will utilize the proceeds to fund a portion of the cash investment required to acquire the 3500 MHz spectrum licenses awarded following the ISED's spectrum auction earlier this year.
- The sale of the Notes will likely close on December 17.
- Rogers is a wireless service provider in Canada, with more than 10 million subscribers, equating to one-third of the total Canadian market.
- Rogers held C$15.2 billion in long-term debt as of September 30.
- Price Action: RCI shares traded lower by 0.22% at $46.35 in the premarket session on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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