TELUS’ $900 Million Sustainability-Linked Notes Offering

Paul, Weiss, Rifkind, Wharton & Garrison advised TELUS Corporation on the offering. Shearman & Sterling represented the bookrunners.

TELUS Corporation, one of Canada’s largest telecommunications companies, announced its inaugural U.S. sustainability-linked offering of $900 million aggregate principal amount of 3.400% sustainability-linked notes due 2032. The bond offering supports TELUS’ commitment to environmental sustainability by linking financing to the achievement of ambitious ESG targets. Should TELUS fail to meet certain ESG targets, the interest payable on the notes will increase.

J.P. Morgan Securities LLC, TD Securities (USA) LLC and Wells Fargo Securities, LLC acted as joint bookrunning managers and BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets, Scotia Capital, National Bank of Canada Financial Markets, Desjardins Capital Markets, HSBC and SMBC Nikko as co-managers.

TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications technology company with $17 billion in annual revenue and 17 million customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security.

The Paul, Weiss team included corporate partner Andrew Foley (Picture) and tax partner Robert Holo. 

The Shearman & Sterling team included Lona Nallengara, Harald Halbhuber, Larry Crouch, Jennifer D. Morton, Daniel Kachmar and Taylor Pugliese.

Involved fees earner: Andrew Foley – Paul Weiss Rifkind Wharton & Garrison; Robert Holo – Paul Weiss Rifkind Wharton & Garrison; Larry Crouch – Shearman & Sterling; Harald Halbhuber – Shearman & Sterling; Daniel Kachmar – Shearman & Sterling; Jennifer Morton – Shearman & Sterling; Lona Nallengara – Shearman & Sterling; Taylor Pugliese – Shearman & Sterling;

Law Firms: Paul Weiss Rifkind Wharton & Garrison; Shearman & Sterling;

Clients: BMO Capital Markets; CIBC Capital Markets; Desjardins Capital Markets; HSBC; J.P. Morgan Securities LLC; National Bank Financial Inc.; RBC Capital Markets; Scotia Capital Inc.; SMBC Nikko Securities America; TD Securities; TELUS Corporation; Wells Fargo Securities;