VANCOUVER – Telus is offering $1.75 billion in new debt notes to help pay off the more than $1 billion that it spent earlier this month on AWS-3 spectrum licences.
The company said that the senior unsecured notes will be offered in three series, the first with a 3-year maturity, the second with a 7-year maturity and the third with a long 30-year maturity.
The 1.50% three-year Notes, Series CS, were priced at $99.962 per $100 principal amount for an effective yield of 1.513% per annum and will mature on March 27, 2018. The 2.35% seven-year Notes, Series CT, were priced at $99.731 per $100 principal amount for an effective yield of 2.392% per annum and will mature on March 28, 2022. The 4.40% long 30-year Notes, Series CU, were priced at $99.972 per $100 principal amount for an effective yield of 4.402% per annum and will mature on January 29, 2046.
The net proceeds will be used to fund all or a portion of the remaining $1.2 billion required to acquire the AWS-3 spectrum licences and repay short term indebtedness, with any remaining balance used for general corporate purposes, the announcement continues.
