TELUS Announces Pricing of Cash Tender Offers for Eight Series of Debt Securities

Core Points - TELUS Corporation announced the pricing terms of its separate offers to purchase outstanding notes for cash, with a maximum purchase amount defined in the Offer to Purchase dated June 20, 2025 [1][2] - The Offers are subject to specific terms and conditions outlined in the Offer to Purchase [2] - The total consideration for the notes accepted for purchase will be paid on the expected settlement date of July 3, 2025, along with accrued coupon payments [6] Offer Details - The aggregate principal amounts of the notes accepted for purchase include C$800 million for 3.95% Senior Notes due February 2050, C$500 million for 4.10% Senior Notes due April 2051, and C$500 million for 4.40% Senior Notes due January 2046, among others [3][4] - The reference yield for the 3.95% Senior Notes is 3.579% plus a fixed spread of 145 basis points, resulting in a total consideration of C$848.56 per C$1,000 principal amount [3][4] - The financing condition for the Offers has been satisfied due to the closing of a previously announced offering of junior subordinated notes totaling US$1.5 billion [5] Settlement and Cancellation - Holders of the accepted notes will lose all rights as holders of the tendered notes, and interest will cease to accrue on the settlement date [6][7] - Any notes purchased in the Offer will be retired and canceled, while unaccepted notes will be returned to the tendering holders without cost [7] Dealer Managers - TELUS has engaged several financial institutions, including RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., and CIBC World Markets Inc., to act as lead dealer managers for the Offers [8]