Telus announces $1.3 billion equity offering

VANCOUVER — Telus announced Wednesday it is selling 25 million common shares to a syndicate of underwriters in a deal valued at $1.3 billion (C$52.00 per share). The group of underwriters is led by RBC Capital Markets and TD Securities, together with CIBC Capital Markets, BMO Capital Markets and Scotiabank as joint bookrunners. Telus says in its news release that it intends to use the net proceeds from the equity offering for general corporate purposes including funding growth opportunities, capital expenditures and debt reduction. Completion of the offering is subject to customary conditions and the receipt of all necessary stock...