Rogers Raises $1 Billion With First U.S. Bond Sale Since 2008

Rogers Communications Inc. (RCI/B), Canada’s largest wireless carrier, sold $1 billion of debt in its first U.S. offering in more than four years.

The communications and media company issued $500 million each of 3 percent, 10-year securities to yield 113 basis points more than similar-maturity U.S. Treasuries and 4.5 percent, 30- year debt at a relative yield of 145 basis points, according to data compiled by Bloomberg.

The senior unsecured notes may be rated Baa1 by Moody’s Investors Service, according to a person familiar with the transaction who asked not to be identified because the terms are private.

Rogers previously sold U.S. dollar-denominated notes in July 2008, issuing $1.4 billion of 6.8 percent, 10-year securities and $350 million of 7.5 percent, 30-year debt, Bloomberg data show. The bonds due August 2038 traded at 137.7 cents on the dollar to yield 4.89 percent on Feb. 19, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

Proceeds will be used for general corporate purposes, the Toronto-based company said today in a U.S. regulatory filing. Bank of America Corp. and JPMorgan Chase & Co. managed the offering, Bloomberg data show.

To contact the reporter on this story: Sarika Gangar in New York at sgangar@bloomberg.net

To contact the editor responsible for this story Alan Goldstein at agoldstein5@bloomberg.net