Canadian telco Telus is selling C$800m (US$758m) of senior unsecured notes to fund its planned acquisition of smaller domestic rival Public Mobile and also repay outstanding commercial paper.
The offering is in two parts: C$400m (US$379m) of 3.6% 7-year…
Canadian telco Telus is selling C$800m (US$758m) of senior unsecured notes to fund its planned acquisition of smaller domestic rival Public Mobile and also repay outstanding commercial paper.
The offering is in two parts: C$400m (US$379m) of 3.6% 7-year notes priced at C$99.715 to yield 3.645%; and C$400m (US$379m) of 5.15% 30-year notes priced at C$99.50 to yield 5.183%.
The bookrunning managers of the sale are CIBC World Markets, Toronto Dominion Bank and Scotia Capital.
Closing of the offering is expected to occur on or about 26 November.
Last month, Telus was given the green light by the government to take over Public Mobile for an undisclosed amount from investors Thomas Seed Capital and Cartesian Capital. The acquisition now only requires approval from the Competition Bureau.
