Rogers Borrows from Rogers

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Rogers Wireless Communications Inc. will lend $1.4 billion to Rogers Communications Inc., the two companies said Friday.

The loan will be made from cash on hand resulting from a return of capital from Rogers Wireless Inc., a wholly-owned subsidiary that recently completed a private placement of notes in an aggregate principal amount of approximately $2.356 billion.

Rogers Communications said it intends to use the $1.4 billion, together with $350 million from cash on hand, to permanently repay a $1.75 billion bridge credit facility.