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Rogers Communications Inc. Announces Pricing of Canadian Offering of $1.25 billion Debt Securities

March 4, 2014

News Releases

Offering to partially fund previously announced acquisition of 700MHz
‘beachfront’ spectrum licenses

TORONTO, March 3, 2014 /CNW/ – Rogers Communications Inc. (“RCI”)
announced today that it has priced a Canadian offering of $1.25 billion
of debt securities (the “Canadian Notes”) consisting of $250 million
aggregate principal amount of floating rate senior notes due 2017, $400
aggregate principal amount of 2.80% senior notes due 2019, and
$600 million aggregate principal amount of 4.00% senior notes due 2024.
The net proceeds from the issuance of these Canadian Notes will be
approximately $1.24 billion.  RCI expects to use the net proceeds of
this Canadian offering, together with available cash on hand and other
debt funding, to fund the $3.29 billion cash investment required to
acquire twenty year licenses for two 12MHz blocks of contiguous, paired
lower 700MHz band spectrum located in the key rural and urban locations
across Canada.  The sale of the Canadian Notes is expected to close on
March 10, 2014.

The Canadian Notes are being offered on a best efforts basis in each of
the provinces of Canada through a syndicate of agents.  This Canadian
offering is only made by prospectus. Rogers will be filing a prospectus
supplement relating to the Canadian offering with the securities
regulatory authorities in each of the provinces of Canada.  Before
making an investment decision, investors should read the prospectus
supplement and the accompanying short form base shelf prospectus dated
February 21, 2014, which together contain detailed information about
the Canadian Notes being offered.  Copies of this prospectus supplement
and accompanying base shelf prospectus may be obtained over the
Internet at the Canadian Securities Administrators’ website at

This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities in any jurisdiction. 
The Canadian Notes have not been approved or disapproved by any
regulatory authority nor has any such authority passed upon the
accuracy or adequacy of the short form base shelf prospectus or the
prospectus supplement.

This news release is not an offer for sale within the United States of
any debt or other securities of RCI.  Securities of RCI, including any
offering of its debt securities, may not be offered or sold in the
United States
absent registration under U.S. securities laws or unless
exempt from registration under such laws.  The Canadian offering
described in this news release is not being made in the United States
The offering of the Canadian Notes has not been and will not be
registered under U.S. securities laws, and accordingly, the Canadian
Notes may not be offered or delivered, directly or indirectly, or sold
in the United States except in certain transactions exempt from the
registration requirements under applicable U.S. securities laws.

Caution Concerning Forward-Looking Statements, Risks and Assumptions

This news release includes “forward-looking information” within the
meaning of applicable securities laws relating to, among other things,
our assumed financing and completion of the acquisition and subsequent
deployment of wireless spectrum as detailed above.  We caution that all
forward-looking information is inherently subject to change and
uncertainty and that actual results may differ materially from those
expressed or implied by the forward-looking information. A number of
risks, uncertainties and other factors could cause actual results and
events to differ materially from those expressed or implied in the
forward-looking information or could cause our current objectives,
strategies and intentions to change, including but not limited to the
post auction distribution of the aforementioned wireless spectrum by
Industry Canada, a failure to complete the financing for such spectrum
on the anticipated terms or unanticipated subsequent operational, technological or
financial challenges associated with the deployment of such spectrum
that could arise. Many of these factors are beyond our control and
current expectation or knowledge. Should one or more of these risks,
uncertainties or other factors materialize, our objectives, strategies
or intentions change, or any other factors or assumptions underlying
the forward-looking information prove incorrect, our actual results and
our plans could vary significantly from what we currently foresee.
Accordingly, we warn investors to exercise caution when considering
statements containing forward-looking information and that it would be
unreasonable to rely on such statements as creating legal rights
regarding our future results or plans. We are under no obligation (and
we expressly disclaim any such obligation) to update or alter any
statements containing forward-looking information, the factors or
assumptions underlying them, whether as a result of new information,
future events or otherwise, except as required by law. All of the
forward-looking information in this news release is qualified by the
cautionary statements herein.

About the Company:

Rogers Communications is a diversified Canadian communications and media
company. We are engaged in wireless voice and data communications
services through Wireless, Canada’s largest wireless provider. Through
Cable, we are one of Canada’s leading providers of cable television
services as well as high-speed Internet access and telephony services
to consumers and businesses. Through Media, we are engaged in radio and
television broadcasting, televised shopping, sports entertainment, and
magazines and trade publications. We are publicly traded on the Toronto
Stock Exchange (TSX: RCI.A and RCI.B) and on the New York Stock
Exchange (NYSE: RCI).

SOURCE Rogers Communications Inc.