Rogers lenders agree on extension to close Shaw acquisition

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Bondholders agreed to extend the deadline to Dec. 31, 2023, and in return, Rogers will pay an initial consent fee of $520-million

Rogers Communications Inc. says its lenders have agreed to give the company more time to close the planned acquisition of Shaw Communications Inc., in return for up to $775-million in extra fees on financing for a $26-billion takeover that’s been delayed by regulatory opposition.

In return for the extension, Rogers will pay bondholders an initial consent fee of $520-million. The company may also be on the hook for an additional $255-million in fees, depending on when the Shaw takeover closes. If the deal is called off, Rogers will buy back the bonds.

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This should NOT be allowed to happen. Our regulators are scum.

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