VANCOUVER – Telus is offering $1 billion of senior unsecured notes to help pay for its purchases at February’s 700 MHz wireless spectrum auction.
The notes will be offered in two series, the first with a 7-year maturity, and the second with a 30-year maturity. The 3.20% 7-year Notes, Series CO, were priced at $99.739 per $100 principal amount for an effective yield of 3.242% per annum and will mature on April 5, 2021. The 4.85% 30-year Notes, Series CP, were priced at $99.874 per $100 principal amount for an effective yield of 4.858% per annum and will mature on April 5, 2044.
The notes are offered through a syndicate of agents led by TD Securities, RBC Capital Markets, and Scotia Capital. Closing of the offering is expected to occur on or about April 4, 2014.
Telus said that the net proceeds will be used to repay bank indebtedness to be incurred to pay for the 700 MHz spectrum licences and for general corporate purposes.
