TELUS Corp. (TU) said that it has priced $500 million of senior unsecured notes with a 10-year maturity. The notes are offered through a syndicate of agents led by BMO Capital Markets, Scotiabank and TD Securities Inc.
Closing of the offering is expected to occur on or about March 28, 2023.
The 4.95% Sustainability-Linked notes, Series CAJ, were priced at $99.828 per $100 principal amount for an effective yield of 4.972% per annum until maturity, subject to a possible interest rate step-up, and will mature on March 28, 2033.
The company said it will use net proceeds of the offering for the repayment of outstanding indebtedness, including the repayment of commercial paper and the reduction of cash amounts outstanding under an arm's length securitization trust to which an affiliate of TELUS sells interests in certain trade receivables, and for other general corporate purposes.
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