TELUS announces debt offering
March 29 2021 - 11:45PM
TELUS announced today an offering of $500 million of senior
unsecured Series CAE notes with a 30-year maturity. The notes are
offered through a syndicate of agents led by CIBC Capital Markets
and RBC Capital Markets, and together with BMO Capital Markets and
Scotiabank. Closing of the offering is expected to occur on or
about April 5, 2021.
The 4.10% 30-year Series CAE notes were priced at
$99.47 per $100 principal amount for an effective yield of 4.131%
per annum and will mature on April 5, 2051.
The net proceeds of this Offering will be used to
fund the repayment upon maturity of the Series 3, 10.65% debentures
of TELUS Communications Inc. due June 2021, the repayment of
commercial paper (incurred for general working capital purposes),
and for general corporate purposes.
TELUS will be filing a prospectus supplement to its
short form base shelf prospectus dated May 13, 2020 with securities
regulatory authorities in each of the provinces of Canada. The
notes are not being offered in the United States or to any resident
of the United States.
This media release does not constitute an offer to
sell or the solicitation of an offer to buy the securities in any
jurisdiction. The securities being offered have not been approved
or disapproved by any Canadian securities regulatory authority, nor
has any authority passed upon the accuracy or adequacy of the short
form base shelf prospectus or the prospectus supplement.
Copies of the short form base shelf prospectus and
the prospectus supplement relating to the offering of the notes
when filed with securities regulatory authorities in Canada may be
obtained from the Chief Legal and Governance Officer of TELUS at
510 W. Georgia St., 23rd Floor, Vancouver, British Columbia V6B 0M3
(telephone 604-695-6420). Copies of these documents are, or will
be, available electronically on the System for Electronic Document
Analysis and Retrieval of the Canadian Securities Administrators
(“SEDAR”), at www.sedar.com.
Forward-Looking Statements This
news release contains statements about future events pertaining to
the offering, including the anticipated closing date of the
offering and the intended use of the net proceeds of the offering
that are forward-looking. By their nature, forward-looking
statements require us to make assumptions and predictions and are
subject to inherent risks and uncertainties including risks
associated with capital and debt markets. There is significant risk
that the forward-looking statements will not prove to be accurate.
The timing and closing of the above-mentioned offering are subject
to customary closing conditions and other risks and uncertainties.
Readers are cautioned not to place undue reliance on
forward-looking statements as a number of factors could cause
actual future performance and events to differ materially from
those described in the forward-looking statements. Accordingly,
this news release is subject to the disclaimer and the
qualifications and risk factors as set out in our 2020 annual
Management’s discussion and analysis and in other TELUS public
disclosure documents and filings with securities commissions in
Canada (on SEDAR at sedar.com) and in the United States (on EDGAR
at sec.gov). The forward-looking statements contained in this news
release describe our expectations at the date of this news release
and, accordingly, are subject to change after such date. Except as
required by law, TELUS disclaims any intention or obligation to
update or revise forward-looking statements.
About TELUS TELUS (TSX: T, NYSE:
TU) is a dynamic, world-leading communications technology company
with $16 billion in annual revenue and 16 million customer
connections spanning wireless, data, IP, voice, television,
entertainment, video, and security. We leverage our global-leading
technology and compassion to enable remarkable human outcomes. Our
longstanding commitment to putting our customers first fuels every
aspect of our business, making us a distinct leader in customer
service excellence and loyalty. In 2020, TELUS was recognized as
having the fastest wireless network in the world, reinforcing our
commitment to provide Canadians with access to superior technology
that connects us to the people, resources and information that make
our lives better. TELUS Health is Canada’s leader in digital health
technology, improving access to health and wellness services and
revolutionizing the flow of health information across the continuum
of care. TELUS Agriculture provides innovative digital solutions
throughout the agriculture value chain, supporting better food
outcomes from improved agri-business data insights and processes.
TELUS International (TSX and NYSE: TIXT) is a leading digital
customer experience innovator that delivers next-generation AI and
content management solutions for global brands across the
technology and games, ecommerce and FinTech, communications and
media, healthcare, travel and hospitality sectors. TELUS and
TELUS International operate in 25+ countries around the world.
For more information about TELUS, please visit
telus.com.
For more information, please
contact:
Investor Relations Ian McMillan 604-695-4539
ir@TELUS.com
Media Relations Steve Beisswanger 514-865-2787
Steve.Beisswanger@TELUS.com
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