Rogers Communications(RCI) Newsfilter·2025-04-16 11:00Core Viewpoint - Rogers Communications Inc. has successfully received the necessary consents to amend the indentures governing its various notes, allowing for a subsidiary equity investment without violating existing covenants [1][2]. Summary by Relevant Sections Amendments to Indentures - The amendments will clarify that the subsidiary equity investment is not subject to the debt limitation covenant of Rogers' subsidiaries and does not constitute a default under the indentures [2]. - For the Shaw Notes, the amendments will align certain non-financial terms with those in other Canadian dollar denominated notes issued by Rogers [2]. Series of Notes - The company has multiple series of notes, including: - US dollar denominated notes with interest rates ranging from 2.90% to 7.50% maturing between 2025 and 2044 [3]. - Canadian dollar denominated notes with interest rates ranging from 3.25% to 6.75% maturing between 2027 and 2052 [3]. Consent Solicitation Details - The consent solicitations expired on April 15, 2025, and supplemental indentures will be executed for each series of notes to implement the amendments [3][4]. - Consent fees will be paid to holders of the notes who provided valid consents prior to the expiration time, with specific timelines for payment based on the type of notes [4]. Future Expectations - The subsidiary equity investment is expected to be consummated in the second quarter of 2025, which will trigger the payment of consent fees [4].