TELUS宣布定价15亿美元和8亿加元初级次级票据

TELUS (TU) announced it has priced US$1.5 billion in Fixed-to-Fixed Rate Junior Subordinated Notes in two series.

This includes US$800 million in Series C notes due June 9, 2056, with an initial interest rate of 6.375% that resets every five years starting June 9, 2031. The interest will not drop below 6.375%.

The US$700 million in Series D notes due June 9, 2056, will have an initial interest rate of 6.625%, resetting every five years starting June 9, 2036, with a minimum rate of 6.625%.

The offering will be managed by underwriters like CIBC Capital Markets, BMO Capital Markets, TD Securities and Wells Fargo Securities, with closing expected around December 9, 2025.

TELUS also priced CAD$800 million in Fixed-to-Fixed Rate Junior Subordinated Notes. The CAD$400 million Series CAT notes due June 9, 2056, will have an interest rate of 5.375%, resetting every five years from June 9, 2031, while the CAD$400 million Series CAU notes due June 9, 2056, will start at 5.875% and reset every five years from June 9, 2036.

The Canadian Notes are offered through a syndicate of agents led by CIBC Capital Markets, BMO Capital Markets and TD Securities, with closing expected to occur on or about December 9, 2025.

A part of the net proceeds from the US and Canadian Notes offerings will fund a tender offer that started on December 4, 2025, to buy back up to $500 million of TELUS' various outstanding notes. TELUS has the right to increase, decrease or waive the Maximum Purchase Amount, in its sole discretion. The remaining proceeds will be used to pay off other debts, including $600 million of TELUS' 3.75% Notes due in March 2026, and for general corporate purposes.

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