Canada’s third largest mobile operator Telus has issued C$1.2bn (US$1.09bn) of senior unsecured notes in two series to reduce its debt.
The offering was led by RBC Capital Markets, BMO Capital Markets, and CIBC World Markets.
The C$800m 10-year notes…
Canada’s third largest mobile operator Telus has issued C$1.2bn (US$1.09bn) of senior unsecured notes in two series to reduce its debt.
The offering was led by RBC Capital Markets, BMO Capital Markets, and CIBC World Markets.
The C$800m 10-year notes carry a 3.75% coupon and were priced at 99.775 to yield 3.777%. The C$400m 30-year notes, which carry a 4.75% coupon, were priced at 99.291 to yield 4.795%.
The offering is due to close on or about 15 September.
Commenting on the transaction, the group’s executive chair Darren Entwistle said: “Upon closing of today’s debt offering, the average term to maturity of Telus’ long-term debt will be 11.2 years as compared to 5.5 years at the end of 2012.”
In April, it raised C$1bn in a dual-tranche bond offering to cover the cost of its 700 MHz spectrum acquired earlier this year.
Vancouver-headquartered Telus provides telecommunications products and services, including wireless, IP, voice, entertainment and satellite television.
