Rogers Communications Prices $2.5B Offering, Consisting Of $1.25B 5.00% Senior Notes Due 2029 And $1.25B 5.30% Senior Notes Due 2034
Portfolio Pulse from Benzinga Newsdesk
Rogers Communications Inc. (RCI) has announced the pricing of a $2.5 billion public offering of senior notes, split equally between 5.00% notes due 2029 and 5.30% notes due 2034. The net proceeds, approximately $2.46 billion, are intended to repay part of its outstanding debt, including borrowings used for the acquisition of Shaw Communications Inc. The sale is expected to close on February 9, 2024.
February 08, 2024 | 7:42 am
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Rogers Communications Inc. announces a $2.5 billion offering of senior notes to refinance debt, including that from Shaw Communications acquisition.
The offering is likely to be viewed positively by investors as it demonstrates RCI's proactive management of its debt portfolio, especially in refinancing the debt incurred from the Shaw Communications acquisition. This could lead to improved financial flexibility and potentially lower interest expenses over time. However, the impact on the stock price will also depend on market conditions and investor sentiment towards the telecommunications sector.
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