Rogers Communications prices senior notes offering

Rogers Communications Inc. priced a private offering of five series of U.S. dollar-denominated senior notes with an aggregate principal amount of $7.05 billion and four series of Canadian dollar-denominated senior notes with an aggregate principal amount of C$4.25 billion, according to a March 7 news release.

The U.S. dollar notes consist of $1.0 billion of 2.95% senior notes due 2025; $1.3 billion of 3.20% senior notes due 2027; $2.0 billion of 3.80% senior notes due 2032; $750 million of 4.50% senior notes due 2042; and $2 billion of 4.55% senior notes due 2052.

The Canadian dollar notes consist of C$1.25 billion of 3.10% senior notes due 2025; C$1.0 billion of 3.75% senior notes due 2029; C$1.0 billion of 4.25% senior notes due 2032; and C$1.0 billion of 5.25% senior notes due 2052.

The net proceeds from the issuance of the U.S. and Canadian notes will be approximately $6.95 billion and C$4.22 billion, respectively. Rogers Communications expects to use the net proceeds from both offerings to pay a portion of the cash consideration for its pending acquisition of Shaw Communications Inc. and to pay associated fees and expenses.

The offering of the notes is expected to close March 11.