NR 08:33 AM EST, 02/24/2022 (MT Newswires) -- Telus Corp (T.TO, TU) overnight Wednesday said it has priced an offering of US$900 million of senior unsecured sustainability-linked notes with a 10-year maturity.
The Canadian telecoms giant priced the 3.400% notes at US$99.713 per US$100 principal amount for an effective yield of 3.434% per year until maturity. The notes will mature on May 13, 2032.
The notes are subject to a possible interest rate step-up. However, the interest rate can in no event exceed the initial rate of 3.40% by more than 1.50% per annum, Telus said.
The company expects to close the offering by Feb. 28. It will use the net proceeds of this offering to repay outstanding debt and for other general corporate purposes.