TELUS Completes $1B MJDS Offering of Unsecured Notes

On December 4, 2009, TELUS Corporation completed an MJDS offering of $1 billion principal amount of unsecured 5.05 per cent Notes due 2019. The offering was made pursuant to TELUS's short-form base shelf prospectus and net proceeds will be used principally to fund the early partial redemption on December 31, 2009 of US$583.5 million principal amount of TELUS's outstanding US$1.945-billion 8 per cent unsecured notes due June 1, 2011 and for payments required to terminate cross-currency interest rate swaps associated with the notes to be redeemed.

The syndicate of agents in respect of the offering was led by Scotia Capital Inc. and CIBC World Markets Inc., and included BMO Nesbitt Burns Inc, RBC Dominion Securities Inc., TD Securities Inc., HSBC Securities Canada Inc., National Bank Financial Inc., Desjardins Securities Inc. and Canaccord Financial Ltd.

TELUS was represented in-house by a team comprised of Audrey Ho, Brad Cowburn and Michael Johnson, and by Bennett Jones LLP with a team that comprised Kathleen Keller-Hobson, Faran Umar-Khitab, Melissa Robins and Russel Drew (corporate finance) and Thomas Bauer (tax). Richard Aftanas and Anastasios Tomazos (corporate finance); and Victor Hollender and Olivier Nolens (tax) of Skadden, Arps, Slate, Meagher & Flom LLP in New York provided US advice to TELUS.

Osler, Hoskin & Harcourt LLP acted as Canadian and US counsel to the agents with a team that comprised Douglas Marshall, Michael Innes, Jeffrey Murray and Justin Williams (securities) and Lara Friedlander (tax) in Toronto and of Kevin Cramer, Jason Comerford, Kevin Colan and Kate Coolican (securities) and William Corcoran (tax) in New York.


Michael D. Innes Russel W. Drew Lara G. Friedlander Thomas A. Bauer Jeffrey Murray Melissa R. Birman Jason Comerford Kathleen L. Keller-Hobson Bill Corcoran Richard B. Aftanas Justin Williams Douglas R. Marshall Faran Umar-Khitab Kevin Colan


Bennett Jones LLP Skadden, Arps, Slate, Meagher & Flom LLP Osler, Hoskin & Harcourt LLP