Canada’s Rogers to sell $2.2 billion in bonds to repay debt

(Reuters) – Canada’s Rogers Communications said on Thursday it is pricing in a C$3 billion ($2.19 billion) bond offering to repay short-term debt and other borrowings.

Rogers is selling its Canadian dollar-denominated senior bond in four parts, the telecoms company said in a statement, adding that the longest tranche of the offering, due for 2033, is priced at C$1 billion of 5.9% senior bonds.

In March, Canada approved Rogers’ buyout of Shaw Communications after securing binding commitments to pay financial penalties if it failed to create new jobs and invest to expand its network.

($1 = 1.3685 Canadian dollars)

(Reporting by Nilutpal Timsina in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-Phillips)