DBRS Rates TELUS Corporation’s $800 Million 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) $800 million notes (the Notes) issuance, which includes:

(1) $400 million of seven-year 3.60% notes, due January 26, 2021; and

(2) $400 million of 30-year 5.15% notes, due November 26, 2043.

TELUS will use the proceeds to repay outstanding commercial paper and, if regulatory approval is obtained, to fund the acquisition of 100 per cent of Public Mobile Inc. (a Canadian mobile carrier), with the balance directed towards 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.