December 7, 2009 (FinancialWire) — TELUS Corp. (TSX: T) (NYSE: TU) has closed an offering of CDN$1 billion senior unsecured Notes. The 5.05% ten-year Notes, Series CG mature on December 4, 2019.

The company said it would use the net proceeds to fund the partial redemption on December 31, 2009 of $583.5 million principal amount of TELUS’ outstanding $1.945 billion 8% notes due June 1, 2011, for payments required to terminate cross-currency interest rate swaps associated with the notes to be redeemed and any excess for general corporate purposes, including increasing working capital.

Canada-based TELUS is a national telecommunications company in Canada, with 6.4 million wireless subscribers, 4.1 million wireline network access lines, and 1.2 million Internet subscribers.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.