04:03 PM EST - TELUS Corp. : closed its previously announced offering of $1 billion senior unsecured Notes. The 5.05% 10-year Notes, Series CG mature on December 4, 2019. The net proceeds of the sale of the Notes offered will be used to fund the partial redemption on December 31 of $583.5 million U.S. principal amount of TELUS' outstanding $1.945 billion U.S. 8% notes due June 1, 2011. The company will also use the proceeds for payments required to terminate cross-currency interest rate swaps associated with the notes to be redeemed and any excess for general corporate purposes, including increasing working capital. The offering was made pursuant to a prospectus supplement dated December 1, 2009 to TELUS' short form base shelf prospectus dated September 3, 2009 filed with securities regulatory authorities in Canada and the United States. TELUS Corp.
shares T.T are trading down $0.08 at $34.93.
