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TELUS Closes $1 Billion of Debt Offerings

TELUS Closes $1 Billion of Debt Offerings 
Average term to maturity now 10.3 years, compared to 5.5 years at the
end of 2012 
Average cost of long-term debt now 4.89 per cent compared to 5.44 per
cent at the end of 2012 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/04/14 --   TELUS
(TSX: T)(NYSE: TU) announced today it has successfully closed its
previously announced offering of $1 billion in senior unsecured notes
in two series - $500 million of 7-year Notes with a 3.20 per cent
interest rate, Series CO, maturing on April 5, 2021 and $500 million
of 30-year Notes with a 4.85 per cent interest rate, Series CP,
maturing on April 5, 2044. 
The net proceeds will be used to repay bank indebtedness incurred to
pay for the 700 MHz spectrum licences and for general corporate
purposes. 
"With the successful completion of our debt offering today, TELUS
once again demonstrated its ability to access the capital markets and
take advantage of the low interest rate environment. The continued
strength of our balance sheet allows TELUS the unique ability to
simultaneously invest in advanced broadband technologies, acquire
valuable wireless spectrum for the benefit of our customers, and
return significant amounts of cash to our shareholders through our
multi-year share purchase and dividend growth programs," said Darren
Entwistle, TELUS President and CEO. "Our sustained focus on strategic
investments in our networks and commitment to delivering an
exceptional customer experience, has placed TELUS in the rare
position globally of delivering sustainable profitable growth in both
our wireless and wireline segments." 
The offering was made pursuant to a prospectus supplement dated April
1, 2014 to TELUS' short form base shelf prospectus dated November 15,
2013 filed with securities regulatory authorities in Canada and the
United States. 
This media release does not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction.
The securities being offered have not been approved or disapproved by
any Canadian or U.S. securities regulatory authority, nor has any
authority passed upon the accuracy or adequacy of the short form base
shelf prospectus or the prospectus supplement. 
Copies of the short form base shelf prospectus and the prospectus
supplement relating to the offering of the Notes filed with
securities regulatory authorities in Canada and the United States may
be obtained from TD Securities Inc., 222 Bay Street, 7th floor,
Toronto Ontario, M5K 1A2 c/o Patrick Scace, telephone 416-308-2172 or
e-mail Patrick.Scace@tdsecurities.com. 
Forward Looking Statements  
This news release contains statements about financial and operating
performance of TELUS (the Company) and future events, including with
respect to future dividend increases and normal course issuer bids
through 2016 that are forward-looking. By their nature,
forward-looking statements require the Company to make assumptions
and predictions and are subject to inherent risks and uncertainties.
There is significant risk that the forward-looking statements will
not prove to be accurate. Readers are cautioned not to place undue
reliance on forward-looking statements as a number of factors could
cause actual future performance and events to differ materially from
that expressed in the forward-looking statements. Accordingly, this
news release is subject to the disclaimer and qualified by the
assumptions (including assumptions for the semi-annual dividend
increases through 2016, ability to sustain and complete multi-year
share purchase programs through 2016), qualifications and risk
factors referred to in the 2013 annual report, and in other TELUS
public disclosure documents and filings with securities commissions
in Canada (on SEDAR at sedar.com) and in the United States (on EDGAR
at sec.gov). Except as required by law, TELUS disclaims any intention
or obligation to update or revise forward-looking statements, and
reserves the right to change, at any time at its sole discretion, its
current practice of updating annual targets and guidance. 
About TELUS  
TELUS (TSX: T)(NYSE: TU) is Canada's fastest-growing national
telecommunications company, with $11.4 billion of annual revenue and
13.3 million customer connections, including 7.8 million wireless
subscribers, 3.3 million wireline network access lines, 1.4 million
Internet subscribers and 815,000 TELUS TV customers. Led since 2000
by President and CEO, Darren Entwistle, TELUS provides a wide range
of communications products and services, including wireless, data,
Internet protocol (IP), voice, television, entertainment and video. 
Contacts:
Ian McMillan
TELUS Investor Relations
(604) 697-8107
ir@TELUS.com 
Shawn Hall
TELUS Media Relations
604-619-7913
Shawn.Hall@TELUS.com
 
 
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