Canadian telco Telus is offering C$1.75bn(US$1.4bn) of senior unsecured notes in three tranches, which will mature in 2018, 2022 and 2046 respectively.
The Series CS 3-year notes were priced at C$99.962 (US$79.87) to yield 1.513% per annum, the…
Canadian telco Telus is offering C$1.75bn(US$1.4bn) of senior unsecured notes in three tranches, which will mature in 2018, 2022 and 2046 respectively.
The Series CS 3-year notes were priced at C$99.962 (US$79.87) to yield 1.513% per annum, the Series CT 7-year notes were priced at C$99.731 (US$79.69), carrying a 2.392% annual yield, while the 4.402% Series CU 30-year notes were priced at C$99.972(US$79.88).
Proceeds from the offering will be used to fund all or a portion of the remaining C$1.2bn(US$958m)required to acquire the AWS-3 spectrum licences and repay short term indebtedness, with any remaining balance used for general corporate purposes, the company said in a filing.
A syndicate of agents led by CIBC World Markets, Scotia Capital, and TD Securities advised on the offering, which is expected to occur on or about 27 March 2015.
Telus, Canada’s second-largest telco, spent C$1.5bn(US$1.2bn) for licenses in British Columbia, Alberta, Manitoba, Saskatchewan, Ontario and Quebec in the country’s recent AWS-3 spectrum auction, increasing its spectrum position by 16%.
The auction, which was held on 3 March, set aside 60% of the 50 MHz tendered spectrum for smaller players and new entrants, in a bid to favour the emergence of national fourth-player.
