TELUS completes redemption of 3.75% Notes, Series CV due March 10, 2026
TELUS completes redemption of 3.75% Notes, Series CV due March 10, 2026 |
| [16-January-2026] |
VANCOUVER, BC, Jan. 16, 2026 /CNW/ - TELUS Corporation ("TELUS" or the "Company") today confirmed the successful completion of the full redemption of its outstanding C$600 million 3.75% Notes, Series CV due March 10, 2026 (CUSIP No. 87971MBC6), as initially announced on December 16, 2025. The redemption was funded through proceeds from TELUS' December 2025 offering of Fixed-to-Fixed Rate Junior Subordinated Notes ("Hybrid Notes"), which raised the equivalent of C$2.9 billion with proceeds designated toward debt repayment. "This successful redemption demonstrates our disciplined approach to balance sheet management and our commitment to strengthening our financial foundation," said Doug French, Executive Vice-President and CFO. "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 redemption is part of TELUS' broader balance sheet management and deleveraging initiatives, which also included the early redemption of seven series of discounted notes totaling C$1.0 billion in cash proceeds, as communicated on December 10, 2025, following the issuance of the Hybrid Notes. Today's update underscores TELUS' commitment to balance sheet management and supports its deleveraging trajectory, moving ahead of plan, with 2025 net debt to adjusted EBITDA projected at approximately 3.4-times. The Company aims to reach circa 3.3-times or lower by year-end 2026, and approximately 3.0-times by the end of 2027. Caution regarding forward-looking statements This news release contains forward-looking statements about expected events and the financial and operating performance of TELUS Corporation. The terms TELUS, the Company, we, us and our refer to TELUS Corporation and, where the context of the narrative permits or requires, its subsidiaries. Forward-looking statements include any statements that do not refer to historical facts. They include, but are not limited to, statements relating to our objectives and strategic priorities and our strategies to achieve those objectives and strategic priorities, including the statements in this release regarding our deleveraging plan and its timeline. These statements are made pursuant to the "safe harbour" provisions of applicable securities laws in Canada and the United States Private Securities Litigation Reform Act of 1995. Disclosure regarding our financial targets is presented for the purpose of assisting our investors and others in understanding certain key elements of our expected financial results in 2025 and future years as well as our objectives, strategic priorities and business outlook. Such information may not be appropriate for other purposes. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future performance and events to differ materially from those described in the forward-looking statements. These statements are subject to risks and uncertainties and are made based on our current assumptions, including assumptions about future economic conditions and courses of action. Accordingly, this news release is subject to the disclaimer and the qualifications and should be read together with the risk factors and assumptions set out in our 2024 annual management's discussion and analysis ("MD&A"), and updated in our third quarter 2025 MD&A, and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR+ at sedarplus.ca) and in the United States (on EDGAR at sec.gov). Quarterly dividend decisions are made by our Board of Directors based on our financial position and outlook. The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements. About TELUS For more information, visit telus.com or follow @TELUSNews on X and @Darren_Entwistle on Instagram. Investor Relations Media Relations
SOURCE TELUS Corporation | ||
Company Codes: Toronto:T,NYSE:TU |
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