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TELUS prices debt offering

TELUS Corp. priced a US$750 million offering of senior unsecured notes with a 30-year maturity.

Closing of the offering is expected to occur on or about June 12, subject to customary closing conditions, the company said June 7. The notes were priced at US$98.760 per US$100 principal amount for an effective yield of 4.677% per annum and will mature Nov. 16, 2048.

The notes are being offered through a syndicate of underwriters led by Merrill Lynch Pierce Fenner & Smith Inc., RBC Capital Markets LLC, TD Securities (USA) LLC and Wells Fargo Securities LLC.

The company plans to use the net proceeds to repay outstanding debt, including outstanding commercial paper, and for general corporate purposes.