Rogers Communications Prices US$750M and Cdn$1.25B Subordinated Notes to Repay Debt
RCI sits 67% above its 52-week low of $23.18.
Summary
Rogers Communications Inc. announced the formal pricing of US$750 million and Cdn$1.25 billion in subordinated notes, with proceeds designated for debt repayment.
Key Events · Financing and Capital Events · RCI
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Pricing of US$750 Million Subordinated Notes
Rogers Communications Inc. priced a U.S. public offering of US$750 million of 6.875% fixed-to-fixed rate subordinated notes due 2056. The net proceeds are expected to be approximately US$740 million.
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Pricing of Cdn$1.25 Billion Subordinated Notes
The company also priced a Canadian private placement of Cdn$1.25 billion of 6.250% fixed-to-fixed rate subordinated notes due 2056. The net proceeds are expected to be approximately Cdn$1.24 billion.
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Use of Proceeds for Debt Repayment
The net proceeds from both offerings, totaling approximately US$1.66 billion, are expected to be used to repay certain outstanding indebtedness of Rogers Communications Inc.
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Expected Closing Date
Both the U.S. and Canadian note offerings are expected to close on March 27, 2026.
Analysis · RCI · Technology
Rogers Communications Inc. has formally priced two significant subordinated note offerings, totaling approximately US$1.66 billion (US$750 million and Cdn$1.25 billion). This filing finalizes the terms and pricing of the offerings, which were previously announced via a Free Writing Prospectus and news release on March 25, 2026. The substantial capital raise, representing a notable percentage of the company's market capitalization, is intended to repay existing outstanding indebtedness, which is a positive move for balance sheet management and financial stability.
At the time of this filing, RCI was trading at $38.75 on NYSE in the Technology sector, with a market capitalization of approximately $21B. The 52-week trading range was $23.18 to $41.14. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.