TELUS Completes $1B Debt Offering

On March 13, 2007 TELUS Corporation completed an MJDS offering in Canada and the US of $300 million aggregate principal amount of 4.5 per cent notes, series CC due March 15, 2012 and $700 million aggregate principal amount of 4.95 per cent notes, series CD due March 15, 2017. The offering was undertaken by way of a prospectus supplement to TELUS' short form base shelf prospectus. Net proceeds of the offering will be used for general corporate purposes including the redemption of TELUS' 7.50 per cent US $ series 1 notes due 2007. The syndicate of agents in respect of the offering was led by TD Securities Inc. and included BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc., National Bank Financial Inc. and Desjardins Securities Inc.

TELUS was represented in-house by Audrey Ho, Kris Britch, Andras Vagvolgyi and Maria Preovolos. Bennett Jones LLP acted as Canadian counsel to TELUS with a team comprised of Kathleen Keller-Hobson, Phil Lefko, Yoon Han, Maria Sountas-Argiropoulos and Terra Rebick (corporate finance) and Stephen Bowman and Jason Vincze (tax). Skadden, Arps, Slate, Meagher & Flom LLP acted as US counsel to TELUS with a team comprised of Richard Aftanas, Phyllis Korff, Daniel Scotti, Sarah Paul and Anastasios Tomazos (corporate) and Katherine Bristor and Dan Phillips (tax).

Osler, Hoskin & Harcourt LLP acted as Canadian and US counsel to the agents with a team in Toronto comprised of Doug Marshall, Michael Innes and Jennifer Lee (securities/corporate), Monica Biringer (tax) and Lorne Abugov (regulatory); and a team in New York comprised of and Kevin Cramer and Sachin Davé (securities/corporate) and Kevin Colan (tax).