Rogers Communications Inc. priced the largest corporate bond issuance so far this year as the telecom company refinances debt after it completed the acquisition of a smaller rival.
The Toronto-based wireless company sold C$3 billion ($2.2 billion) of investment-grade rated notes in four parts, according to data compiled by Bloomberg. The longest portion of the offering, a 10-year tranche, was priced at the tight end of a range between 232 basis points and 235 basis points over the Canadian government curve, said the person, who asked not to be identified as the details are private.
Rogers agreed to a C$6 billion bank facility to help fund its C$20 billion deal to acquire Shaw Communications Inc., which was first announced in 2021 and gained approval in March after a legal fight with Canada’s antitrust body.
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