Telus prepares to bring Canadian dollar-denominated offering of notes due 2021, 2044

By Cristal Cody

Tupelo, Miss., April 1 - Telus Corp. intends to bring a two-part Canadian dollar-denominated offering of notes (Baa1/BBB+/DBRS: A), according to a preliminary prospectus supplement filed with the Securities and Exchange Commission on Tuesday.

The deal includes series CO notes due April 5, 2021 and series CP notes due April 5, 2044.

The managers are TD Securities Inc., RBC Dominion Securities Inc., Scotia Capital Inc., CIBC World Markets Inc., BMO Nesbitt Burns Inc., HSBC Securities (Canada) Inc., J.P. Morgan Securities Canada Inc., National Bank Financial Inc., Desjardins Securities Inc., Laurentian Bank Securities Inc. and Wells Fargo Securities Canada, Ltd.

Telus plans to use the proceeds to repay debt that will be drawn from the company's 2011 credit facility on Wednesday to fund a portion of the C$1.14 billion purchase price of 700 MHz spectrum licenses and for general corporate purposes.

The Vancouver, B.C.-based telecommunications company was last in the primary market on Nov. 21 when it sold C$800 million of 3.6% series CM senior notes due 2021 and C$400 million of 5.15% series CN notes due 2043.

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