06:33 AM EDT, 06/25/2025 (MT Newswires) -- TELUS ( TU ) (T.TO, TU) late on Tuesday said it has priced an offering of US$1.5 billion of fixed-to-fixed rate junior subordinated notes in two series.

The US$700 Series A notes due Oct. 15, 2055 will initially bear interest at an annual rate of 6.625% and reset every five years starting Oct. 15, 2030.

The US$800 million Series B notes due Oct. 15, 2055 will initially bear interest at an annual rate of 7% and reset every five years starting Oct. 15, 2035.

Net proceeds will be used to fund TELUS' ( TU ) previously announced tender offers. If any tender offer is not consummated or not all of the proceeds are used to fund the tender offers, the remaining net proceeds will be used for debt repayment, including commercial paper, and for general corporate purposes.

The offering is scheduled to close on June 27, subject to customary closing conditions.