Reported about 1 month ago
Rogers Communications Inc., Canada's largest wireless provider, is close to finalizing a structured equity investment of C$7 billion ($5.1 billion) aimed at financing parts of its network and reducing debt. The company announced a non-binding term sheet with an unnamed global financial investor, intending to maintain operational control over its networks despite this deal. Following the announcement, Rogers' shares dropped significantly, but the financial maneuver is seen as a positive step toward lowering its leverage ratio and strengthening its balance sheet.
Source: YAHOO