DBRS Rates TELUS Corporation’s $1 Billion Notes Issuance A (low), Stable Trend

DBRS has today assigned a rating of A (low) with a Stable trend to TELUS Corporation’s (TELUS or the Company) $1 billion notes (the Notes) issuance, which includes:

(1) 7-year, $500 million 3.20% notes, due April 5, 2021; and

(2) 30-year, $500 million 4.85% notes, due April 5, 2044.

DBRS expects TELUS to use the proceeds to repay bank indebtedness to be incurred to pay for the 700 MHz spectrum licences and for general corporate purposes.

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

The applicable methodology is Rating Companies in the Communications Industry, which can be found on our website under Methodologies.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.