TORONTO — Rogers Communications has closed a transaction that will allow the company to borrow against C$1.15 billion ($782 million) in securities that the company owns.
Toronto-based Rogers, Canada’s largest cabler, is borrowing against AT&T Canada shares the company currently owns and has committed to sell back to AT&T at a guaranteed minimum price. Company plans to use the net proceeds of $637.5 million to reduce its bank debt.
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