Rogers Communications has raised $1.9 billion in a two-part sale of senior notes. Bonds worth $1.49 billion, which carry a coupon rate of 5.34%, will be due in 2021 and notes costing $411.9 million, which carry a coupon rate of 6.56%, will mature in 2041. The Canadian wireless carrier will use the proceeds from the offering to fund the redemptions of its $350 million, 7.875% senior notes due 2012 and $470 million, 7.25% senior notes due in 2012. The investment dealer arms of Royal Bank of Canada and Bank of Nova Scotia were the joint book running managers on the sale, adds Reuters.
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