TELUS is issuing $1.5B in U.S. and $800M in Canadian bonds due 2056 to refinance debt and fund a bond buyback.

TELUS has priced a $1.5 billion U.S. dollar-denominated note offering and an $800 million Canadian dollar-denominated offering, both due in 2056, with closings expected around December 9, 2025. The notes feature fixed-to-fixed rates with periodic resets tied to U.S. Treasury or Canada Government bond rates, plus a spread, and include interest rate floors. Proceeds will fund a tender offer to buy up to $500 million in existing TELUS bonds, repay debt including a $600 million note due in 2026, and support general corporate needs. The offerings are underwritten by major banks and are not approved by any securities authority.