TELUS Announces Cash Tender Offers for Eight Series of Debt Securities

Core Points - TELUS Corporation announced the commencement of cash offers to purchase up to C$600,000,000 of its outstanding senior notes across eight series [1][2] - The offers are subject to certain conditions, including a Financing Condition, which must be satisfied or waived for the offers to proceed [1][13] - The total consideration for each series of notes will be based on a fixed spread plus the yield of applicable Canadian reference securities [6][9] Offer Details - The offers will expire at 5:00 p.m. (Eastern time) on June 27, 2025, unless extended or terminated earlier by the company [7] - Settlement for accepted notes is expected to occur three business days after the expiration date, anticipated to be July 3, 2025 [8] - Holders of notes accepted for purchase will receive the total consideration plus accrued and unpaid interest [10] Notes Information - The company has listed eight series of senior notes with varying principal amounts, interest rates, and maturity dates [4] - The maximum purchase amount may be increased, decreased, or waived at the company's discretion [1][12] - The offers may be subject to proration based on the total amount of notes tendered [3] Conditions and Management - The offers are contingent upon the company raising sufficient net proceeds through debt issuances to cover the purchase of the notes and associated costs [13] - RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., and TD Securities Inc. are acting as lead dealer managers for the offers [14]