Telus issues $1B worth of new debt securities

VANCOUVER – Telus has issued $1 billion senior unsecured notes priced at $99.42 per $100 principal amount for an effective yield of 5.125% per annum. They will mature on December 4, 2019.The company also announced the redemption on December 31, 2009 of US$583.5 million principal amount of its US$ 8% notes due June 1, 2011.The bulk of the new issue proceeds will be used to refinance debt and related derivative obligations maturing in 2011, with any excess applied to “general corporate purposes”, including increasing working capital.Moody’s Investors Service assigned a Baa1 rating to the senior unsecured note issue, the same...