Rogers 2010 Annual Report Download - page 96

Download and view the complete annual report

Please find page 96 of the 2010 Rogers annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
100 ROGERS COMMUNICATIONS INC. 2010 ANNUAL REPORT
14. LONG-TERM DEBT:
Due
date
Principal
amount
Interest
rate 2010 2009
Bank credit facility Floating $ – $ –
Senior Notes* 2011 $U.S. 490 9.625% –515
Senior Notes* 2011 460 7.625% –460
Senior Notes** 2011 175 7.25% –175
Senior Notes** 2012 U.S. 350 7.875% 348 368
Senior Notes* 2012 U.S. 470 7.25% 468 494
Senior Notes** 2013 U.S. 350 6.25% 348 368
Senior Notes* 2014 U.S. 750 6.375% 746 788
Senior Notes** 2014 U.S. 350 5.50% 348 368
Senior Notes* 2015 U.S. 550 7.50% 547 578
Senior Notes** 2015 U.S. 280 6.75% 279 294
Senior Notes 2016 1,000 5.80% 1,000 1,000
Senior Notes 2018 U.S. 1,400 6.80% 1,392 1,471
Senior Notes 2019 500 5.38% 500 500
Senior Notes 2020 900 4.70% 900 –
Senior Debentures** 2032 U.S. 200 8.75% 199 210
Senior Notes 2038 U.S. 350 7.50% 348 368
Senior Notes 2039 500 6.68% 500 500
Senior Notes 2040 800 6.11% 800 –
Fair value increment (decrement) arising from purchase accounting (5) 6
Capital leases and other Various –1
8,718 8,464
Less current portion –1
$ 8,718 $ 8,463
(*)Denotes senior notes originally issued by Rogers Wireless Inc. which are now unsecured obligations of RCI and for which Rogers Communications Partnership (“RCP”) is an unsecured co-obligor (note 14(e)).
(**)Denotes senior notes and debentures originally issued by Rogers Cable Inc. which are now unsecured obligations of RCI and for which RCP is an unsecured guarantor (note 14(e)).
(A) BANK CREDIT FACILITY:
The bank credit facility provides the Company with up to $2.4 billion
from a consortium of Canadian financial institutions. The bank credit
facility is available on a fully revolving basis until maturity on
July2,2013, and there are no scheduled reductions prior to maturity.
The interest rate charged on the bank credit facility ranges from nil to
0.5% per annum over the bank prime rate or base rate or 0.475% to
1.75% over the bankers’ acceptance rate or the London Inter-Bank
Offered Rate (“LIBOR”). The Company’s bank credit facility is unsecured
and ranks pari passu with the Company’s senior public debt and
Derivatives. The bank credit facility requires that the Company satisfy
certain financial covenants, including the maintenance of certain
financial ratios.
(B) SENIOR NOTES AND SENIOR DEBENTURES:
Interest is paid semi-annually on all of the Company’s notes
and debentures.
Each of the Company’s Senior Notes and Senior Debentures are
redeemable, in whole or in part, at the Company’s option, at any time,
subject to a certain prepayment premium.
(C) ISSUANCE OF SENIOR NOTES:
On August 25, 2010, the Company issued $800 million of 6.11% Senior
Notes which mature on August 25, 2040. The notes are redeemable, in
whole or in part, at the Company’s option, at any time, subject to a
certain prepayment premium. The net proceeds from the offering were
approximately $794 million after deduction of the original issue
discount and debt issuance costs.
On September 29, 2010, the Company issued $900 million of 4.70%
Senior Notes which mature on September 29, 2020. The notes are
redeemable, in whole or in part, at the Company’s option, at any time,
subject to a certain prepayment premium. The net proceeds from the
offering were approximately $895 million after deduction of the
original issue discount and debt issuance costs.
Debt issuance costs of $10 million related to these debt issuances were
incurred and expensed in the year ended December 31, 2010.
On November 4, 2009, the Company issued $500 million of 5.38% Senior
Notes which mature on November 4, 2019 and $500 million of 6.68%
Senior Notes which mature on November 4, 2039. The notes are
redeemable, in whole or in part, at the Company’s option at any time,
subject to a certain prepayment premium. The net proceeds from the
offering were approximately $993 million after deduction of the
original issue discount and debt issuance costs.
On May 26, 2009, the Company issued $1.0 billion of 5.80% Senior Notes
which mature on May 26, 2016. The notes are redeemable, in whole or
in part, at the Company’s option, at any time, subject to a certain
prepayment premium. The net proceeds from the offering were
approximately $993 million after deduction of the original issue
discount and debt issuance costs.
Debt issuance costs of $11 million related to these debt issuances were
incurred and expensed in the year ended December 31, 2009.