DBRS Assigns A (low) Rating to TELUS’s Planned Notes Issuance

DBRS has today assigned a rating of A (low) to the TELUS Corporation (TELUS or the Company) planned issuance of senior unsecured notes. The trend is Stable.

This debt issuance was initiated by TELUS today by way of a short-form prospectus supplement under its $4.0 billion universal short-form shelf prospectus dated September 3, 2009, of which $3.0 billion is currently available. DBRS expects this issue to consist of one tranche of ten-year notes, maturing on July 23, 2020.

DBRS expects TELUS to use the proceeds from this issue for refinancing a portion of its US$1.3615 billion 8% notes due on June 1, 2011; for payments required to terminate associated cross-currency swaps; and for general corporate purposes.

Note:
All figures are in Canadian dollars unless otherwise noted.

The applicable methodology is Rating Telecommunications, which can be found on our website under Methodologies.

This is a Corporate (Telecom/Media/Technology) rating.