Rogers Communications Raises C$2 Billion via Private Debt Offering

A man speaks on a mobile phone outside Rogers Communications Inc.'s annual general meeting of shareholders in Toronto on April 22, 2014. Darren Calabrese/The Canadian Press

Rogers Communications Inc (RCI) priced C$2 billion 5.0 percent 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.