TELUS to Redeem C$500 Million of 2.75% Series CZ Notes in May
TELUS will redeem C$500 million of its C$800 million outstanding 2.75% Series CZ notes due July 8, 2026, on May 8, 2026, selected pro rata. The redemption will be funded with proceeds from its December 2025 fixed-to-fixed rate junior subordinated notes offering.
1. Redemption Announcement
On March 9, TELUS notified holders that it will redeem C$500 million principal of its 2.75% Series CZ notes due July 8, 2026. The redemption date is set for May 8, 2026, with notes selected on a pro rata basis from the C$800 million outstanding.
2. Funding Source
Proceeds from TELUS’s fixed-to-fixed rate junior subordinated notes offering completed in December 2025 will fund the partial redemption. This aligns with the company’s debt management strategy to optimize its capital structure.
3. Impact on Debt Profile
Post-redemption, C$300 million of Series CZ notes will remain outstanding, all maturing on July 8, 2026. The move reduces near-term debt obligations and locks in lower interest costs under the new subordinated notes.