Telus Sells Canada’s First SLB Issue Amid 5G Battle
- Telco priced C$750 million of bonds maturing in 2031
- SLBs allow for use of proceeds for a wide range of purposes
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Telus Corp. priced Canada’s first sustainability-linked bonds, a kind of debt sale where the proceeds can be used broadly and not just for environmental purposes.
The telecom company sold C$750 million ($606 million) of the bonds maturing in November 2031 up from at least C$500 million initially offered, according to people familiar with the matter. The securities were priced at a yield of 137 basis points over over Canadian government securities, at the tight end of a spread guidance communicated to investors earlier Monday, and garnered orders for over 3.5 times the deal size, said the people.