TELUS announces debt offering $600 million 10-year notes




News Release

TELUS announces debt offering $600 million 10-year notes with 3.625 per cent interest rate
$150 million re-opening of 4.70 per cent notes maturing in 2048

Proceeds to repay a portion of outstanding commercial paper, repayment of a portion of outstanding indebtedness, and for general corporate purposes

Vancouver, B.C. – TELUS announced today a dual-tranche offering of $600 million of senior unsecured Series CX notes with a 10-year maturity and a $150 million re-opening of its Series CW notes maturing in 2048. The notes are offered through a syndicate of agents led by Scotia Capital Inc., TD Securities Inc., and BMO Nesbitt Burns Inc. Closing of the offering is expected to occur on or about March 1, 2018.

The 3.625 per cent 10-year Series CX notes were priced at $98.949 per $100 principal amount for an effective yield of 3.752 per cent per annum and will mature on March 1, 2028. The 4.70 per cent Series CW notes were priced at $101.411 per $100 principal amount for an effective yield of 4.612 per cent per annum and will mature on March 6, 2048.

The net proceeds will be used to repay approximately $725 million of outstanding commercial paper, as well as to fund the repayment, on maturity, of a portion of the $250 million principal amount outstanding on TELUS’ 1.50 per cent Series CS notes due March 27, 2018. The balance will be used for general corporate purposes.

TELUS will file a prospectus supplement to its amended and restated short form base shelf prospectus dated August 30, 2016 with securities regulatory authorities in each of the provinces of Canada. The notes are not being offered in the US 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 amended and restated short form base shelf prospectus or the prospectus supplement.

Copies of the amended and restated short form base shelf prospectus and the prospectus supplement relating to the offering of the notes filed with securities regulatory authorities in Canada may be obtained from the Executive Vice-President, Corporate Affairs and 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 on the System for Electronic Document Analysis and Retrieval of the Canadian Securities Administrators (“SEDAR”), at www.sedar.com.

About TELUS
TELUS (TSX: T, NYSE: TU) is Canada’s fastest-growing national telecommunications company, with $13.3 billion of annual revenue and 13 million subscriber connections, including 8.9 million wireless subscribers, 1.7 million high-speed Internet subscribers, 1.3 million residential network access lines 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 and video. 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.

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For more information, please contact:
TELUS Investor Relations
Ian McMillan
(604) 695-4539
ir@TELUS.com
TELUS Media Relations
Richard Gilhooley
(778) 868-0235
Richard.Gilhooley@telus.com