The structured transaction with a “global financial investor” Rogers didn’t identify will reduce the telco’s expected debt, it said as it announced the agreement in its latest earnings report. Rogers said it expects to finalize the details by the end of the year. The deal should help lower its debt-to-earnings ratio from 4.6 to 3.7. (The Logic)

Talking point: Rogers has been selling assets to pay down debt since it bought Shaw last year. The company reported that its finances are showing the fruits of its absorption of Shaw, however, and it posted net income of $526 million in the last quarter—an improvement from a $99-million loss in the same quarter last year. Its free cash flow also improved, from $745 million to $915 million. Quarterly revenue from Rogers’ wireless segment, the biggest part of the business, was essentially flat from last year, as was revenue from its wired cable and internet services.