Telus plans draw on credit facility to be repaid with note proceeds

By Tali Rackner

Norfolk, Va., April 1 - Telus Corp. plans to draw from its C$2 billion credit facility on April 2 to fund a portion of the purchase price of 30 spectrum licenses, according to a 424B5 filing with the Securities and Exchange Commission.

The company will then repay the debt to be drawn from the credit facility with the proceeds from two new notes offerings.

The spectrum licenses have a term of 20 years and are being acquired for C$1.14 billion.

Proceeds will also be used for general corporate purposes.

Telus is a Vancouver, B.C. based telecommunications company.

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