TELUS announced it has priced $2.0 billion of senior unsecured notes in three series, the first with a 10-year maturity, the second with a 30-year maturity and the third with a 7-year maturity. The notes are offered through a syndicate of agents led by CIBC Capital Markets, RBC Capital Markets and Scotiabank. Closing of the offering is expected to occur on or about September 13, 2022.

The 5.25% Sustainability-Linked notes, Series CAG (the Series CAG Notes), were priced at $99.673 per $100 principal amount for an effective yield of 5.293% per annum until maturity, subject to a possible interest rate step-up, and will mature on November 15, 2032. The 5.65% notes, Series CAH, were priced at $99.613 per $100 principal amount for an effective yield of 5.677% per annum until maturity and will mature on September 13, 2052. The 5.00% notes, Series CAI, were priced at $99.569 per $100 principal amount for an effective yield of 5.074% per annum until maturity and will mature on September 13, 2029.

The net proceeds of this offering will be used for the repayment of outstanding indebtedness, including the repayment of commercial paper (incurred for general working capital purposes) and the reduction of cash amounts outstanding under an arm's length securitization trust to which an affiliate of the company sells interests in certain trade receivables (incurred for working capital purposes), and for other general corporate purposes.