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TELUS Corporation Completes Redemption of C$600 Million in 3.75% Notes

On January 16, 2026, TELUS Corporation, a leading communications technology company based in Canada, confirmed the successful completion of the redemption of its outstanding C$600 million 3.75% Notes, Series CV, which were set to mature on March 10, 2026. This strategic financial maneuver illustrates TELUS's commitment to optimizing its balance sheet management.

Background of the Redemption

This redemption was initially announced on December 16, 2025, and it was carefully funded through proceeds generated by TELUS' recent offering of Fixed-to-Fixed Rate Junior Subordinated Notes, commonly referred to as Hybrid Notes. These Hybrid Notes raised an impressive C$2.9 billion, which TELUS has earmarked specifically for debt repayment. Doug French, the Executive Vice-President and CFO of TELUS, emphasized that this successful redemption exemplifies their disciplined approach to managing both capital and financial resources effectively.

Strategic Financial Management

In a strategic move that emphasizes their focus on maintaining a strong financial foundation, TELUS undertook this redemption as part of a broader series of initiatives aimed at balancing their overall financial health. This included the early redemption of several other series of discounted notes, collectively amounting to C$1.0 billion in cash proceeds, which had been communicated to the public on December 10, 2025, shortly after the issuance of the Hybrid Notes.

Doug French commented on the importance of this plan, stating, "By proactively managing our debt maturity profile through strategic refinancing, we're creating greater financial flexibility to support our capital allocation priorities and drive long-term shareholder value." This proactive management is crucial, especially in a landscape requiring agility and foresight.

Deliberate Deleveraging Initiatives

The recent operations underscore TELUS’s commitment to deleverage its financial structure effectively. As per TELUS' projections, by the end of 2025, they expect their net debt to adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) ratio to be around 3.4 times. Looking ahead, TELUS aims to reduce this ratio further to approximately 3.3 times or lower by the close of 2026, with plans to reach roughly 3.0 times by the conclusion of 2027.

This trajectory not only appears optimistic but also reflects the robust strategies in place geared toward achieving these financial goals. Such well-thought-out financial strategies are vital for maintaining investor confidence and enhancing stockholder value over time.

Caution Regarding Forward-Looking Statements

In light of these developments, TELUS acknowledged that their announcements and projections contain forward-looking statements. These statements pertain to potential financial and operational performance and must be interpreted with caution. The company stresses that these expectations are subject to various factors that could dramatically affect actual outcomes. Thus, they urge readers and investors to be mindful of these uncertainties.

About TELUS Corporation

TELUS Corporation is not just another telecommunications provider. Operating across more than 45 countries, it generates over $20 billion in annual revenue, connecting more than 20 million customers through its diverse suite of broadband services tailored for businesses, consumers, and government entities. The company is dedicated to leveraging technological advancements to foster beneficial human outcomes.

With a focus on community and customer service, TELUS is recognized for its contributions to society, particularly through initiatives such as TELUS Health, which enhances the lives of millions through innovative technology.

The successful completion of the note redemption exemplifies TELUS's strategy of strong financial management and commitment to operational excellence, making it a corporation to watch in the coming years.