TELUS announced today it has priced $700 million of senior unsecured notes with a 7-year maturity. The notes are offered through a syndicate of agents led by BMO Capital Markets, CIBC Capital Markets and RBC Capital Markets (the "Lead Agents"). Closing of the offering is expected to occur on or about August 13, 2024.
The 4.65% notes, Series CAQ, were priced at $99.911 per $100 principal amount for an effective yield of 4.665% per annum until maturity, and will mature on August 13, 2031.
The net proceeds of this offering will be used for the repayment of outstanding indebtedness, including the repayment of commercial paper (incurred for general working capital purposes) and the reduction of cash amounts outstanding under an arm's length securitization trust under which an affiliate of TELUS is able to borrow against certain trade receivables and unbilled customer finance receivables (incurred for general working capital purposes), and for other general corporate purposes.
This media release does not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities being offered have not been approved or disapproved by any Canadian securities regulatory authority, nor has any authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the prospectus supplement. The notes have not been registered under the U.S. Securities Act of 1933, as amended, and no notes are being offered in the United States or to or for the account or benefit of any U.S. person.