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TELUS announces pricing of US$ junior subordinated notes offering
TELUS announces pricing of US$ junior subordinated notes offering Canada NewsWire ...
About this update from Telus Corporation
[{"type":"text","content":"\n\n\n\n TELUS announces pricing of US$ junior subordinated notes offering\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n June 24, 2025\n \n\n /CNW/ - TELUS announced today it has priced an offering of\n \n US$1.5 billion\n \n aggregate principal amount of Fixed-to-Fixed Rate Junior Subordinated Notes in two series (together, the \"Notes\").\n \n\n\n\n\n\n\n\n\n The\n \n US$700 million\n \n Fixed-to-Fixed Rate Junior Subordinated Notes, Series A due\n \n October 15, 2055\n \n will initially bear interest at an annual rate of 6.625% and reset every five years starting on\n \n October 15, 2030\n \n at an annual rate equal to the Five-Year U.S. Treasury rate plus a spread of 2.769%, provided that the interest rate during any five-year interest period will not reset below 6.625%. The\n \n US$800 million\n \n Fixed-to-Fixed Rate Junior Subordinated Notes, Series B due\n \n October 15, 2055\n \n will initially bear interest at an annual rate of 7.000% and reset every five years starting on\n \n October 15, 2035\n \n at an annual rate equal to the Five-Year U.S. Treasury rate plus a spread of 2.709%, provided that the interest rate during any five-year interest period will not reset below 7.000%.\n \n\n The Notes are offered through a syndicate of underwriters led by J.P Morgan Securities LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC. Closing of the offering is expected to occur on or about\n \n June 27, 2025\n \n , subject to the satisfaction of customary closing conditions.\n \n\n The net proceeds of this offering will be used to fund TELUS' previously announced tender offers. In the event that any tender offer is not consummated or not all of the net proceeds are used to fund the tender offers, TELUS intends to use the remaining net proceeds from this offering for the repayment of debt, including commercial paper (incurred for general corporate purposes), and for other general corporate purposes.\n \n\n TELUS has been advised that credit rating agencies that have rated these Notes have a...