Sep 13, 2002 : TELUS to Sell Shares, Buy Back Debt

📅 September 13, 2002 - Telecommunications carrier TELUS Corp. said on Thursday that it has appointed a syndicate for the purpose of underwriting a $337.4 million Canadian offering in non-voting shares in the United States and Canada.

The offering, says Telus, will involve more than 34 million non-voting shares at a price of $9.85 Canadian per share. The offer will be made under a supplement to Telus's shelf prospectus, which allows the company to offer debt securities, preferred shares, non-voting shares and common shares.
According to Telus, proceeds from the offering will be used to repay debt, including bank debt incurred for the repurchase of Telus notes, and for general corporate purposes.
Telus says it has repurchased notes with an aggregate market value of about $150 million Canadian and face value of about $210 million Canadian. The company intends to continue repurchasing notes and debentures, at acceptable prices and terms, as they mature from 2003 to 2011.

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