XML 70 R53.htm IDEA: XBRL DOCUMENT v3.20.4
SHORT-TERM BORROWINGS (Tables)
 12 Months Ended
Dec. 31, 2020
Financial Instruments [Abstract]  
Disclosure of detailed information about borrowings
Below is a summary of our short-term borrowings as at December 31, 2020 and 2019.
As at December 31
(In millions of dollars)20202019
Receivables securitization program650 650 
US commercial paper program571 1,588 
Total short-term borrowings1,221 2,238 
Below is a summary of the activity relating to our short-term borrowings for the years ended December 31, 2020 and 2019.
Year ended December 31, 2020Year ended December 31, 2019
NotionalExchangeNotionalNotionalExchangeNotional
(In millions of dollars, except exchange rates)(US$)rate(Cdn$)(US$)rate(Cdn$)
Proceeds received from US commercial paper3,316 1.329 4,406 12,897 1.328 17,127 
Repayment of US commercial paper(4,098)1.355 (5,552)(12,876)1.328 (17,094)
Net (repayment of) proceeds received from US commercial paper(1,146)33 
Proceeds received from credit facilities— — — 420 1.336 561 
Repayment of credit facilities— — — (420)1.343 (564)
Net repayment of credit facilities— (3)
Net (repayment of) proceeds received from short-term borrowings(1,146)30 
As at December 31
(In millions of dollars, except interest rates)Due date Principal amountInterest rate20202019
Senior notes20211,450 5.340 %1,450 1,450 
Senior notes2022600 4.000 %600 600 
Senior notes2022US750 Floating955 — 
Senior notes2023US500 3.000 %637 649 
Senior notes2023US850 4.100 %1,082 1,104 
Senior notes2024600 4.000 %600 600 
Senior notes2025US700 3.625 %890 909 
Senior notes2026US500 2.900 %637 649 
Senior notes20271,500 3.650 %1,500 — 
Senior notes20291,000 3.250 %1,000 1,000 
Senior debentures 1
2032US200 8.750 %255 260 
Senior notes2038US350 7.500 %446 455 
Senior notes2039500 6.680 %500 500 
Senior notes2040800 6.110 %800 800 
Senior notes2041400 6.560 %400 400 
Senior notes2043US500 4.500 %637 649 
Senior notes2043US650 5.450 %827 844 
Senior notes2044US1,050 5.000 %1,337 1,365 
Senior notes2048US750 4.300 %955 973 
Senior notes 2049US1,250 4.350 %1,592 1,624 
Senior notes2049US1,000 3.700 %1,273 1,299 
18,373 16,130 
Deferred transaction costs and discounts(172)(163)
Less current portion    (1,450)— 
Total long-term debt    16,751 15,967 
1    Senior debentures originally issued by Rogers Cable Inc. which are unsecured obligations of RCI and for which RCCI was an unsecured guarantor as at December 31, 2020 and 2019.
The tables below summarize the activity relating to our long-term debt for the years ended December 31, 2020 and 2019.
Year ended December 31, 2020Year ended December 31, 2019
(In millions of dollars, except exchange rates)NotionalExchangeNotionalNotionalExchangeNotional
(US$)rate(Cdn$)(US$)rate(Cdn$)
Credit facility borrowings (US$)970 1.428 1,385 — — — 
Credit facility repayments (US$)(970)1.406 (1,364)— — — 
Net borrowings under credit facilities21 — 
Senior note issuances (Cdn$)1,500 1,000 
Senior note issuances (US$)750 1.359 1,019 2,250 1.326 2,984 
Total senior note issuances2,519 3,984 
Senior note repayments (Cdn$)— (1,800)
Net issuance of senior notes2,519 2,184 
Net issuance of long-term debt2,540 2,184 
Years ended December 31
(In millions of dollars)20202019
Long-term debt net of transaction costs, beginning of year15,967 14,290 
Net issuance of long-term debt2,540 2,184 
Gain on foreign exchange(297)(458)
Deferred transaction costs incurred(23)(61)
Amortization of deferred transaction costs14 12 
Long-term debt net of transaction costs, end of year18,201 15,967 
Below is a summary of the senior notes that we issued in 2020 and 2019.
(In millions of dollars, except interest rates and discounts)
Date issued Principal amountDue dateInterest rateDiscount/ premium at issuance
Total gross proceeds 1 (Cdn$)
Transaction costs and discounts 2 (Cdn$)
2020 issuances
March 31, 20201,500 20273.650 %99.511 %1,500 16 
June 22, 2020US750 2022
USD LIBOR + 0.60%
100 %1,019 5 
2019 issuances
April 30, 2019US1,250 20494.350 %99.667 %1,676 20 
November 12, 2019US1,000 20493.700 %98.926 %1,308 25 
1    Gross proceeds before transaction costs and discounts.
2    Transaction costs and discounts are included as deferred transaction costs and discounts in the carrying value of the long-term debt, and recognized in net income using the effective interest method.
Below is a summary of the repayment of our senior notes during 2019. There were no debt derivatives associated with the 2019 repayments.
(In millions of dollars)
Maturity dateNotional amount (Cdn$)
2019 repayments
March 2019400 
November 2019500 
September 2020, repaid November 2019900 
Total 2019 repayments1,800 
Disclosure of detailed information about accounts receivable securitization program
As at December 31
(In millions of dollars)20202019
Receivables sold to buyer as security2,130 1,359 
Short-term borrowings from buyer(650)(650)
Overcollateralization1,480 709 
Disclosure of detailed information about commercial paper program
Below is a summary of the activity relating to our US CP program for the years ended December 31, 2020 and 2019.
Year ended December 31, 2020Year ended December 31, 2019
NotionalExchangeNotionalNotionalExchangeNotional
(In millions of dollars, except exchange rates)(US$)rate(Cdn$)(US$)rate(Cdn$)
US commercial paper, beginning of year1,223 1.298 1,588 1,177 1.364 1,605 
Net (repayment of) proceeds received from US commercial paper(782)1.465 (1,146)21 1.571 33 
Discounts on issuance 1
8 1.250 10 25 1.320 33 
Loss (gain) on foreign exchange 1
119 (83)
US commercial paper, end of year449 1.272 571 1,223 1.298 1,588 
1 Included in finance costs.