Rogers prices fixed-to-fixed rate subordinated notes totaling US$1 billion and Cdn$600 million

Rogers priced fixed-to-fixed rate subordinated notes totaling about USD 1.6 billion across a US public offering and a Canadian private placement.

• The US issuance was set at USD 1 billion, split into USD 500 million 7.15% notes due 2057 and USD 500 million 7.4% notes due 2057.
• The Canadian private placement consists of CAD 600 million 6% fixed-to-fixed rate subordinated notes due 2057.
• Net proceeds are expected to be about USD 990 million from the US notes and CAD 595 million from the Canadian notes.
• Proceeds are earmarked to redeem or repurchase Rogers’ 5% subordinated notes due 2081 and 5.25% subordinated notes due 2082.