TELUS announces debt offering
June 26 2019 - 9:28PM
TELUS announced today an offering of $800 million of senior
unsecured Series CZ notes with a 7-year maturity. The notes
are offered through a syndicate of agents led by BMO Nesbitt Burns
Inc., CIBC World Markets Inc. and Scotia Capital Inc. Closing of
the offering is expected to occur on or about July 2, 2019.
The 2.75% 7-year Series CZ notes were priced at
$99.873 per $100 principal amount for an effective yield of 2.77%
per annum and will mature on July 8, 2026.
As previously announced on May 31, 2019, TELUS gave
notice of a partial redemption on July 23, 2019 of $650 million of
its outstanding $1 billion 5.05% Notes due July 23, 2020 (the
“Series CH Notes”). The net proceeds will be used to redeem early
the remaining $350 million of outstanding Series CH Notes not
subject to the May 31, 2019 partial redemption, for the repayment
of outstanding commercial paper and for general corporate purposes.
TELUS would only become obligated to complete a redemption of this
$350 million of Series CH Notes if and when it gives notice of
redemption in accordance with the governing trust indenture.
TELUS will be filing a prospectus supplement to its
short form base shelf prospectus dated May 17, 2018
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
filed with securities regulatory authorities in British Columbia,
Canada and the United States 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 also available electronically, as
applicable, on the System for Electronic Document Analysis and
Retrieval of the Canadian Securities Administrators (“SEDAR”), at
www.sedar.com.
Forward-Looking StatementsThis
news release contains statements about future events, including the
anticipated closing date of the offering, and the intended use of
the net proceeds of the offering, including the proposed redemption
of $350 million of Series CH Notes, 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. 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 qualified by the assumptions, qualifications and
risk factors referred to in our 2018 annual and first quarter of
2019 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 TELUSTELUS (TSX: T, NYSE:
TU) is one of Canada’s largest telecommunications companies, with
C$14.5 billion of annual revenue and 14.0 million subscriber
connections, including 9.7 million wireless subscribers, 1.9
million Internet subscribers, 1.2 million residential voice and 1.1
million TELUS TV customers. TELUS provides a wide range of
communications products and services, including wireless, data,
Internet protocol (IP), voice, television, entertainment, video and
home and business security. TELUS is also Canada's largest
healthcare IT provider, and TELUS International delivers business
process solutions around the globe.
For more information about TELUS, please visit
telus.com.
For more information, please
contact:
Ian McMillan TELUS Investor Relations(604)
695-4539ir@TELUS.com
TELUS Media RelationsFrancois
Gaboury438-862-5136Francois.Gaboury@telus.com
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