#Canada #Vancouver #Debt Securities #Cash Offers #TELUS

TELUS Corporation Concludes Cash Tender Offers

On June 30, 2025, TELUS Corporation, headquartered in Vancouver, BC, revealed the successful outcomes of its recent cash tender offers for two series of debt securities. The announcement followed the expiration of the offers on June 27, ensuring that TELUS continues to maintain strong financial health in a dynamic market.

Overview of the Offers

The two offers aimed to purchase outstanding notes, as detailed in the Offer to Purchase document dated June 20, 2025, which held all the terms and conditions of the offers. Both offers have now shown promising results:

• - The total principal amount accepted for purchase amounts to a notable $318,255,000.
• - An additional $789,000 of notes was tendered under the guaranteed delivery procedures, signaling a solid participation from the holders of these notes.

The successful offers pertain specifically to:
1. 4.600% Notes due November 16, 2048
2. 4.300% Notes due June 15, 2049

Each note series achieved full acceptance for all validly tendered amounts, confirming the maximum purchase condition was satisfied, allowing TELUS to proceed without hurdles associated with higher acceptance priority levels.

Financial Maneuvering

The overall response to the offer underscores TELUS's effective management strategy as it aligns with its broader financial goals. This initiative is part of a strategic effort to optimize its debt structure, which has been further facilitated by the recent conclusion of a $1.5 billion junior subordinated notes offering. By doing so, TELUS successfully navigates its financing conditions noted in the tender offer documents, reflecting a proactive approach toward capital management.

Holders of the accepted notes are slated to receive the total consideration according to the offer's parameters, set at $834.11 for each $1,000 principal amount of the 4.600% notes, and $788.18 for the 4.300% notes. Alongside the principal payments, they will also receive accrued coupon payments calculated until the settlement date, set for July 3, 2025.

Dealer Management and Support

To facilitate the tender offers, TELUS enlisted leading financial institutions including J.P. Morgan Securities LLC, RBC Capital Markets, and Wells Fargo Securities LLC, ensuring professional management throughout the tender process. Those interested in the specifics of the offers or seeking additional support have been directed to contact these institutions for any queries or clarifications.

Conclusion

In summary, TELUS Corporation's adept handling of the cash tender offers for its debt securities marks a significant achievement in optimizing its financial position. As the company continues to leverage its extensive portfolio of communications technology, it reaffirms its commitment to excellent service and financial stewardship, ultimately contributing to its status as a key player in the global market. The execution of these offers illustrates TELUS's dedication to serving its investors and maintaining a healthy fiscal trajectory, confident in the future of both its operations and community engagements.