Rogers Communications announces cash tender offer results and increases maximum purchase amount

Rogers Communications Inc. disclosed the results of its cash tender offers for outstanding senior notes on July 21, 2025. The company increased the maximum purchase amount from C$400 million to an adjusted total sufficient to fully accept all tendered 4.25% Senior Notes due 2049, 2.90% Senior Notes due 2030, and 3.30% Senior Notes due 2029, alongside approximately C$300 million of the 3.25% Senior Notes due 2029.

As outlined in the offer to purchase, the tender offers expired at 5:00 p.m. on July 18, 2025. C$2.168 billion in combined principal amount of the notes were validly tendered and not withdrawn before the expiration date, as reported by TSX Trust Company, the Tender Agent.

The expected accepted amounts include C$274.4 million of 4.25% Senior Notes due 2049, C$289.7 million of 2.90% Senior Notes due 2030, and C$340.5 million of 3.30% Senior Notes due 2029. Additionally, C$300 million of the 3.25% Senior Notes due 2029 are expected to be accepted on a pro-rata basis. The company does not anticipate accepting any tenders from 4.25% Senior Notes due 2032 or 3.65% Senior Notes due 2027.

The pricing for the notes is scheduled for 11:00 a.m. on July 21, 2025, with a settlement date set for July 23, 2025. The company will also pay an accrued coupon payment for the accepted notes. Holders whose notes are accepted will forfeit all rights associated with those notes after the settlement date.

Rogers has engaged Merrill Lynch Canada, RBC Dominion Securities, Scotia Capital, and TD Securities as joint lead dealer managers for the offers. TSX Trust Company will serve as the Tender Agent, while TMX Investor Solutions Inc. acts in the role of Information Agent for the offers.