Telus Stock Price, News & Analysis

TELUS (NYSE:TU) has successfully closed its previously announced US$1.5 billion offering of Fixed-to-Fixed Rate Junior Subordinated Notes in two series. The offering was led by a syndicate of underwriters including J.P Morgan Securities, RBC Capital Markets, and Wells Fargo Securities.

The net proceeds will be used to fund TELUS' previously announced tender offers. Any remaining proceeds will be allocated to debt repayment, including commercial paper, and general corporate purposes. The Notes were not offered in Canada except in transactions exempt from prospectus requirements.

["Successfully secured US$1.5 billion in financing through subordinated notes offering", "Potential debt restructuring through tender offers and commercial paper repayment"]

TELUS (NYSE:TU) has announced the pricing of a US$1.5 billion junior subordinated notes offering in two series. The first series consists of US$700 million notes due 2055 with an initial interest rate of 6.625%, while the second series comprises US$800 million notes due 2055 with an initial interest rate of 7.000%.

The offering, led by J.P Morgan Securities, RBC Capital Markets, and Wells Fargo Securities, is expected to close around June 27, 2025. The proceeds will fund previously announced tender offers and debt repayment. Credit rating agencies have assigned 50% equity credit to the Notes.

TELUS Corporation announced cash tender offers to purchase up to C$600 million of its outstanding senior notes across eight different series. The tender offers will expire on June 27, 2025, with settlement expected on July 3, 2025. The purchase price for each series will be determined based on a fixed spread plus the yield of the corresponding Canadian reference security. The offers are subject to various conditions, including a Financing Condition requiring TELUS to raise sufficient funds through debt issuance. Holders whose notes are accepted will receive the Total Consideration plus accrued interest. RBC, BMO, CIBC, Scotia, and TD Securities have been appointed as lead dealer managers for the offers.

TELUS Corporation announced cash tender offers to purchase up to US$750 million aggregate principal amount of two series of outstanding notes. The offers target the 4.600% Notes due November 2048 (US$750M outstanding) and 4.300% Notes due June 2049 (US$500M outstanding). The tender offers will expire on June 27, 2025, at 5:00 PM ET, with settlement expected on July 3, 2025. Holders will receive the Total Consideration based on Treasury yields plus fixed spreads of +110 and +115 basis points respectively, along with accrued interest. The offers are subject to a Maximum Purchase Condition and Financing Condition, requiring TELUS to raise sufficient debt funding by the settlement date.

TELUS (TU) has announced an $800 million re-opening of two junior subordinated note series with 30-year maturities. The Series CAR notes, priced at $102.625 per $100 principal, offer a 6.25% interest rate with a re-opening yield of 5.612% until July 2030, while Series CAS notes, priced at $104.500 per $100 principal, provide a 6.75% interest rate with a re-opening yield of 6.127% until July 2035. Both series mature on July 21, 2055, with interest rates resetting every five years but maintaining minimum rates of 6.25% and 6.75% respectively. The proceeds will be used to reduce outstanding debt, including commercial paper, and for general corporate purposes. Credit rating agencies have assigned 50% equity credit to these notes.

TELUS Digital (NYSE/TSX: TIXT) has received an unsolicited non-binding proposal from TELUS Corporation (TSX: T, NYSE: TU) to acquire all remaining shares not already owned by TELUS Corporation at US$3.40 per share. The proposal includes both multiple voting shares and subordinate voting shares. The deal is subject to several conditions including due diligence, acquisition agreement negotiation, key shareholder support, and TELUS Corporation board approval. The transaction must comply with Canadian and U.S. securities laws, requiring formal valuation and shareholder approval. TELUS Digital's board will form an independent special committee to evaluate the proposal. The company emphasizes that no decisions have been made, and shareholders don't need to take action at this time.

TELUS Corporation has submitted a non-binding indication of interest to acquire all remaining shares of TELUS Digital not already owned by the company for US$3.40 per share. The offer represents a 15% premium to TELUS Digital's NYSE closing price on June 11, 2025, and a 23% premium over its 30-day volume weighted average trading price. TELUS currently owns 57.4% of all outstanding shares and 86.9% of voting power. The proposed acquisition aims to enhance AI capabilities and SaaS transformation across TELUS' business segments, including telecommunications, health, and agriculture. The transaction would be structured to maintain TELUS' balance sheet leverage ratio. The deal requires approval from TELUS Digital's board, shareholders, and court, with no guarantee of completion. Barclays serves as financial advisor, while Stikeman Elliott LLP and A&O Shearman act as legal advisors.

TELUS Health has announced the acquisition of Workplace Options for approximately $500 million, with GTCR investing US$200 million as part of the deal. Workplace Options is a leading global provider of employee wellbeing solutions operating across 200 countries. The acquisition establishes a global network of over 180,000 providers and positions TELUS Health to support more than 150 million lives. The merger combines TELUS Health's digital-first innovation with Workplace Options' Employee and Family Assistance Program (EFAP) capabilities. GTCR, bringing over 40 years of healthcare investment expertise, will serve as a strategic partner to accelerate TELUS Health's global growth. The deal aims to standardize EFAP and wellbeing services delivery while leveraging TELUS' AI expertise and infrastructure to create a comprehensive suite of health solutions globally.

TELUS Corporation (NYSE: TU) has announced the election results of its board of directors at its annual meeting held on May 9, 2025. All 14 management nominees were successfully elected to the board with strong shareholder support. Martha Hall Findlay received the highest approval rate at 99.53%, while Mary Jo Haddad received the lowest at 90.28% of votes in favor.

Notable directors elected include Darren Entwistle with 97.87% approval, Victor Dodig with 99.18%, and Thomas Flynn with 99.44% of votes in favor. The complete voting results will be published on telus.com/agm and filed with Canadian and U.S. securities regulators.