DBRS Rates TELUS Corporation’s $1.2 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) $1.2 billion notes (the Notes) issuance, which includes:

(1) 10-year, $800 million 3.75% notes, due January 17, 2025; and

(2) 30-year, $400 million 4.75% notes, due January 17, 2045.

The net proceeds will be used to repay indebtedness consisting of (1) advances on the 2014 Credit Facility and commercial paper issued to fund a substantial portion of the redemption of the Company’s $500 million Series CE Notes, and (2) other outstanding commercial paper, which was originally incurred 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.