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September 13, 2002 — (WEB HOST INDUSTRY REVIEW) — Telecommunications carrier TELUS Corp. said on Thursday that it has appointed a syndicate for the purpose of underwriting a $337.4 million Canadian offering in non-voting shares in the United States and Canada.
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The offering, says Telus, will involve more than 34 million non-voting shares at a price of $9.85 Canadian per share. The offer will be made under a supplement to Telus?s shelf prospectus, which allows the company to offer debt securities, preferred shares, non-voting shares and common shares.
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According to Telus, proceeds from the offering will be used to repay debt, including bank debt incurred for the repurchase of Telus notes, and for general corporate purposes.
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Telus says it has repurchased notes with an aggregate market value of about $150 million Canadian and face value of about $210 million Canadian. The company intends to continue repurchasing notes and debentures, at acceptable prices and terms, as they mature from 2003 to 2011.
