TELUS Corporation Launches Cash Tender Offers for Debt Securities Up to $750 Million

TELUS Corporation Launches Cash Tender Offers for Debt Securities



On June 20, 2025, TELUS Corporation, a leading communications technology company, announced its initiation of cash tender offers aimed at purchasing up to $750 million of two series of its outstanding debt securities. This strategic move allows noteholders the opportunity to liquidate their holdings and optimize the company’s financial operations.

The offers, which are detailed in the company's official Offer to Purchase, focus on acquiring 4.600% Notes due November 16, 2048 and 4.300% Notes due June 15, 2049. The maximum purchase conditions are subject to various factors, including market conditions and required financing. The company has set up an efficient structure for accepting these tenders based on defined acceptance priority levels.

Notably, all validly tendered notes will be accepted for purchase should they meet the conditions outlined in the Offer to Purchase. Important aspects of these offers include the determination date for total consideration based on applicable yields on U.S. Treasury securities, which is set for June 27, 2025, with the potential settlement date anticipated to be July 3, 2025.

Conditions and Deadlines



The completion of these offers is contingent on specific conditions being met, including the satisfaction of the maximum purchase amount and the financing condition, which entails generating sufficient funds through various debt issuances. Investors will have the opportunity to withdraw their tenders prior to the expiration date of June 27, 2025, ensuring flexibility should market conditions change.

The operational aspects of the tender offer involve multiple channels for investors to tender their securities. TELUS has appointed leading financial institutions such as J.P. Morgan, RBC Capital Markets, and Wells Fargo Securities as dealer managers, providing expert guidance through the offer period. Moreover, Global Bondholder Services Corporation serves as the information and tender agent, ensuring all queries from investors are efficiently handled.

Moreover, TELUS has emphasized that the offers are not an invitation to buy or sell any securities, and the actual acceptance of tenders is subject to legal compliance in various jurisdictions. The company has reiterated its commitment to transparency and integrity in these financial transactions, continuously prioritizing shareholder value and equity involvement.

Corporate Strategy



With this tender offer, TELUS aims to strategically manage its debt profile and capitalize on favorable market conditions to enhance its fiscal position. The company’s focus on innovation and customer commitment remains at the forefront, as it actively seeks avenues to leverage technology for improved service delivery across more than 45 countries.

In sum, the initiation of these cash tender offers highlights TELUS's proactive management strategy in dealing with debt obligations while ensuring that its shareholders can engage in beneficial financial decisions.

Topics Financial Services & Investing)

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