$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, British Columbia, Feb. 27, 2018 (GLOBE NEWSWIRE) -- 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.
Forward Looking Statements
This news release contains statements about future events, including the anticipated closing date of the offering, and the intended
use of the net proceeds of the offering that are forward-looking. By their nature, forward-looking statements require us to make
assumptions and predictions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking
statements will not prove to be accurate. The timing and closing of the above-mentioned offering are subject to customary closing
conditions and other risks and uncertainties. Readers are cautioned not to place undue reliance on forward-looking statements as a
number of factors could cause actual future performance and events to differ materially from those described in the forward-looking
statements. Accordingly, this news release is subject to the disclaimer and qualified by the assumptions, qualifications and risk
factors referred to in our 2017 Annual Management’s discussion and analysis, and in other TELUS public disclosure documents and
filings with securities commissions in Canada (on SEDAR at sedar.com) and in the United States (the Electronic Data Gathering,
Analysis, and Retrieval system, administered by the US Securities and Exchange Commission at sec.gov). The forward-looking
statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject
to change after such date. Except as required by law, TELUS disclaims any intention or obligation to update or revise
forward-looking statements.
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.
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