Shearman & Sterling represented Citigroup Global Markets Inc. as initial purchaser in connection with two Rule 144A bond offerings totaling $2.78 billion. The transactions represent the largest high yield bond offering ever completed by a Canadian company and the third largest high yield offering on record. The concurrent offerings were made by two subsidiaries of Canada-based Rogers Communications Inc.—Rogers Wireless Inc. ($2.4 billion) and Rogers Cable Inc. ($426.7 million). Rogers Wireless offered 5 series of bonds, including floating rate bonds, senior secured bonds, subordinated bonds and Canadian dollar-denominated bonds.

Rogers Communications Inc. is a diversified communications and media company. It is engaged in cable television, high-speed Internet access and video retailing through Canada's largest cable television provider, Rogers Cable Inc.; in wireless voice and data communications services through Canada's largest and leading national GSM/GPRS cellular provider, Rogers Wireless Communications Inc.; and in radio, television broadcasting, televised shopping and publishing businesses through Rogers Media Inc.