December 2, 2009 (FinancialWire) — Telus Corp. (TSX: T) (NYSE: TU) has priced its offering of CDN$1 billion senior unsecured notes and the redemption on December 31, 2009 of $583.5 million principal amount of its $8% notes due June 1, 2011.

The 5.05% 10-year notes, Series CG were priced at $99.419 per $100 principal amount for an effective yield of 5.125% per annum and will mature on December 4, 2019. The notes are offered through a syndicate of agents led by Scotia Capital and CIBC World Markets. Closing of the offering is scheduled to occur on or about December 4, 2009.

The net proceeds of the sale of the notes offered will be used to fund the partial redemption on December 31, 2009 of $583.5 million principal amount of Telus’ outstanding $1.945 billion 8% notes due June 1, 2011, for payments required to terminate cross-currency interest rate swaps associated with the notes to be redeemed and any excess for general corporate purposes, including increasing working capital.

Canada-based Telus is a national telecommunications company in Canada, with $11.9 million customer connections including 6.4 million wireless subscribers, 4.1 million wireline network access lines, and 1.2 million Internet subscribers.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).