Rogers Communications Inc. Announces Pricing of Public Offering of US$750 million Fixed-to-Fixed Rate Subordinated Notes and Canadian Private Placement of Cdn$1.25 billion Fixed-to-Fixed Rate Subordinated Notes
Rhea-AI Summary
Rogers Communications (NYSE: RCI; TSX: RCI.A, RCI.B) priced two subordinated note offerings due 2056: a US$750 million public issue at 6.875% and a C$1.25 billion Canadian private placement at 6.250%. Net proceeds are about US$740 million and C$1.24 billion. The company expects to use proceeds to repay certain outstanding indebtedness and expects both closings on March 27, 2026.
Positive
- Raises US$750 million and C$1.25 billion in long‑dated subordinated debt
- Net proceeds of approximately US$740 million and C$1.24 billion to repay outstanding indebtedness
- Fixed coupons lock funding cost at 6.875% (US Notes) and 6.25% (Cdn Notes) through 2056
Negative
- Adds long‑dated subordinated debt with significant coupons potentially raising interest expense
- Subordinated status may limit recovery priority versus senior creditors in stress scenarios
News Market Reaction – RCI
In the Mar 25 session, RCI gained 0.83%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Private placement,offering Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 10 | Debt offering | Neutral | +1.7% | US$2.1B U.S. notes and Cdn$1.0B notes priced for debt repayment and acquisition. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
The last similar subordinated notes offering tagged as 'private placement,offering' saw a modest positive move of 1.71%, suggesting past debt raises were absorbed without major volatility.
Over the past several months, Rogers has combined capital markets activity with steady operating updates. A prior subordinated notes offering in Feb 2025 tied to debt repayment and a strategic stake acquisition saw shares gain 1.71%. More recently, strong Q4 2025 results and 2026 guidance, plus a $0.50 quarterly dividend, coincided with gains above 6%. The current 2056 subordinated notes transactions continue the pattern of using capital markets to manage indebtedness.
Key Terms
fixed-to-fixed rate subordinated notes financial
private placement financial
prospectus supplement regulatory
shelf registration statement regulatory
form f-10 regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
TORONTO, March 24, 2026 (GLOBE NEWSWIRE) -- Rogers Communications Inc. (TSX: RCI.A and RCI.B) (NYSE: RCI) (“RCI”) announced today that it has priced:
- a U.S. public offering of US
$750 million of6.875% fixed-to-fixed rate subordinated notes due 2056 (the “US Notes”); and - a Canadian private placement of
$1.25 billion of6.250% fixed-to-fixed rate subordinated notes due 2056 (the “Cdn Notes” and, together with the US Notes, the “Notes”).
The net proceeds from the issuance of the US Notes and the issuance of the Cdn Notes will be approximately US
The US Notes will be issued pursuant to a prospectus supplement and accompanying prospectus filed with the U.S. Securities and Exchange Commission (“SEC”) as part of an effective shelf registration statement on Form F-10. These documents are available at no charge by visiting EDGAR on the SEC website at www.sec.gov. A copy of the prospectus and prospectus supplement relating to the offering of the US Notes may also be obtained from RCI by contacting Investor Relations as described below. The US Notes are not being offered in Canada or to any resident of Canada.
The Cdn Notes will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws in the United States and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. The Cdn Notes were offered exclusively to persons resident in a Canadian province, through a syndicate of agents on a private placement basis. The Cdn Notes will not be sold to investors outside of Canada.
This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Rogers Communications Inc.:
Rogers is Canada’s communications, sports and entertainment company and its shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI). For more information, please visit rogers.com or about.rogers.com/investor-relations.
Caution Concerning Forward-Looking Statements
This press release may include “forward‐looking information” and “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking information”). RCI cautions that forward‐looking information is inherently subject to change and uncertainty and that actual results may differ materially from those expressed or implied by the forward-looking information. A comprehensive discussion of risks associated with forward-looking information can be found in RCI’s public reports and filings, including the risks outlined in the section entitled “Risks and Uncertainties Affecting our Business” in its management’s discussion and analysis of its audited consolidated financial statements as at and for the year ended December 31, 2025, which is available under its profile at www.sedarplus.ca, and are also available at www.sec.gov, and in the section entitled “Risk Factors” in the prospectus. RCI is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking information, whether as a result of new information, future events, or otherwise.
For further information:
Investor Relations
1-844-801-4792
investor.relations@rci.rogers.com
