Cable & Telecom

Telus debt offering raises $600M

VANCOUVER - Telus has successfully closed its previously announced offering totaling $600 million in senior unsecured 2.80% 10-year notes.The company said Monday that the proceeds will be used to repay approximately U.S.$453 million of outstanding commercial paper and for general corporate purposes."Through this successful U.S. debt offering, Telus further lowered its weighted average cost of long-term borrowing from 4.32 per cent to 4.23 per cent," said Telus EVP and CFO Doug French, in the news release.  "Combined with our average long-term debt maturity of 10.7 years, Telus continues to maintain a strong, investment grade balance sheet to ensure it can...