VANCOUVER – Telus announced today it is offering $1.7 billion of senior unsecured notes in two tenors, the first with an 11-year maturity, the second with a 30-year maturity. The notes are offered through a syndicate of agents led by CIBC World Markets, RBC Capital Markets, and Scotia Capital. Closing of the offering is expected to occur on or about April 1, 2013.
The 3.35 per cent 11-year notes, Series CK, were priced at $99.435 per $100 principal amount for an effective yield of 3.412% per annum and will mature on April 1, 2024. The 4.40 per cent 30-year Notes, Series CL, were priced at $99.768 per $100 principal amount for an effective yield of 4.414% per annum and will mature on April 1, 2043.
The net proceeds of the offering will be used to repay the company’s outstanding $300 million of 5.00% Series CB notes due June 3, 2013 at maturity, to fund the proposed early redemption of the company’s outstanding $700 million of 4.95% Series CF Notes due May 15, 2014, to repay outstanding commercial paper (short term floating rate debt) and for general corporate purposes.
