TELUS Announces Partial Redemption of 2.75% Notes, Series CZ due July 8, 2026

Rhea-AI Summary

TELUS (NYSE:TU) announced a partial redemption of its 2.75% Notes, Series CZ due July 8, 2026: C$500 million will be redeemed on May 8, 2026 out of C$800 million outstanding, selected on a pro rata basis. The redemption price will be determined under the indenture. The partial redemption will be funded with proceeds from TELUS' Fixed-to-Fixed Rate Junior Subordinated Notes offerings completed in December 2025.

This notice is informational and is not an offer to buy or sell securities.

Positive

• Redeeming C$500M of C$800M outstanding notes (62.5% reduction)
• Redemption funded by December 2025 junior subordinated notes proceeds

Negative

• Remaining C$300M of Series CZ notes maturing July 8, 2026
• Near-term cash outflow tied to May 8, 2026 redemption

Key Figures

Partial redemption size: C$500 million Notes outstanding: C$800 million Coupon rate: 2.75% +2 more

5 metrics

Partial redemption size C$500 million Aggregate principal amount of Notes to be redeemed on May 8, 2026

Notes outstanding C$800 million Current aggregate principal amount of 2.75% Notes, Series CZ

Coupon rate 2.75% Interest rate on Notes, Series CZ due July 8, 2026

Redemption date May 8, 2026 Scheduled date of partial redemption of Notes

Maturity date July 8, 2026 Stated maturity of 2.75% Notes, Series CZ

Market Reality Check

Price: $13.70 Vol: Volume 5,835,374 vs 20-da...

normal vol

$13.70 Last Close

Volume Volume 5,835,374 vs 20-day average 6,186,775 (relative 0.94x). normal

Technical Price 13.70 is trading below the 200-day MA of 14.96 and 18.14% under the 52-week high.

Peers on Argus

TU slipped -0.65% while peers were mixed: BCE and VIV were up, SATS and RCI were...

1 Up

TU slipped -0.65% while peers were mixed: BCE and VIV were up, SATS and RCI were down. Momentum scanner only flagged SATS moving up, supporting a stock-specific rather than sector-wide move.

Historical Context

5 past events · Latest: Mar 03 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 03	Connectivity partnership	Positive	+1.2%	Space-based cellular broadband agreement with AST SpaceMobile across Canada.
Feb 25	AI research study	Neutral	-0.7%	Study on AI persona prompting risks and enterprise model robustness.
Feb 25	DRISP amendment	Neutral	-0.7%	Change to dividend reinvestment and share purchase plan discount terms.
Feb 24	AI showcase	Neutral	-0.2%	AI CX and network optimization demonstrations at Mobile World Congress 2026.
Feb 12	Dividend declaration	Neutral	-2.2%	Quarterly cash dividend of $0.4184 CAD per share announced.

Pattern Detected

Recent news has included partnerships, AI initiatives and capital returns, with only the space-based connectivity agreement showing a clearly positive price reaction.

Recent Company History

Over the past month, TELUS announced a space-based broadband partnership with AST SpaceMobile, AI-focused research on model behavior, AI transformation use cases at Mobile World Congress, and dividend-related actions including a cash dividend of $0.4184 per share and an amended dividend reinvestment plan. Price reactions were modest, with the AST SpaceMobile agreement leading to a +1.24% move, while dividend and AI headlines saw small declines. Today’s partial note redemption fits into ongoing balance-sheet and capital-returns activity.

Market Pulse Summary

This announcement details a partial redemption of C$500 million from the 2.75% Notes, Series CZ, aga...

Analysis

This announcement details a partial redemption of C$500 million from the 2.75% Notes, Series CZ, against C$800 million outstanding, scheduled for May 8, 2026 ahead of their July 8, 2026 maturity. Funded with prior junior subordinated notes offerings, it signals ongoing liability management. In context of recent dividends, governance filings and strategic partnerships, investors may track future debt actions, capital allocation decisions and how these interact with TELUS’ broader 2026 financial plans.

Key Terms

aggregate principal amount, cusip, indenture, junior subordinated notes, +1 more

5 terms

aggregate principal amount financial

"partial redemption on May 8, 2026 of C$500 million aggregate principal amount of the outstanding"

The aggregate principal amount is the total amount of money borrowed through a bond or loan that the borrower promises to repay. It’s like the original price tag on a loan or bond, showing how much money is involved in the deal. This number matters because it indicates the size of the debt and helps investors understand the scale of the borrowing.

cusip financial

"2.75% Notes, Series CZ due July 8, 2026 (CUSIP No. 87971MBL6)"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

indenture financial

"the redemption price for the Notes will be calculated in accordance with the applicable indenture."

An indenture is a legal agreement between a company that borrows money by issuing bonds and the people who buy those bonds. It explains the rules the company must follow, like paying back the money and keeping certain financial promises. This document helps both sides understand their rights and responsibilities.

junior subordinated notes financial

"funded using proceeds from TELUS' Fixed-to-Fixed Rate Junior Subordinated Notes offerings"

Junior subordinated notes are a type of bond: a loan investors make to a company that ranks low in the repayment order if the company runs into trouble. Because they are paid after other creditors, they usually offer higher interest to compensate for greater risk; think of them as being near the back of the line at a crowded payout window. Investors care because these notes affect potential returns and downside exposure, and they influence a company’s overall borrowing risk and credit profile.

fixed-to-fixed rate financial

"funded using proceeds from TELUS' Fixed-to-Fixed Rate Junior Subordinated Notes offerings"

A fixed-to-fixed rate describes a debt instrument or loan that pays one fixed interest rate for an initial period and then switches to a different fixed rate for a subsequent period or the remainder of the term. For investors, it means cash flows are predictable within each period but the income level will change at the reset point, affecting yield and price sensitivity to market rates — like a thermostat set to one steady temperature for a while, then permanently set to a new steady temperature.

AI-generated analysis. Not financial advice.

VANCOUVER, BC, March 9, 2026 /PRNewswire/ - TELUS Corporation ("TELUS" or the "Company") announced that it has given notice today of a partial redemption on May 8, 2026 of C$500 million aggregate principal amount of the outstanding 2.75% Notes, Series CZ due July 8, 2026 (CUSIP No. 87971MBL6) (the "Notes"), of which there is currently C$800 million aggregate principal amount outstanding. The Notes will be selected for redemption on a pro rata basis and the redemption price for the Notes will be calculated in accordance with the applicable indenture. The partial redemption will be funded using proceeds from TELUS' Fixed-to-Fixed Rate Junior Subordinated Notes offerings completed in December 2025.

This news release is for informational purposes only and does not constitute an offer to buy or sell, or the solicitation of an offer to buy, or sell, any securities.

About TELUS

TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company operating in more than 45 countries and generating over $20 billion in annual revenue with more than 21 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. TELUS Health is enhancing more than 161 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. TELUS Agriculture & Consumer Goods utilizes digital technologies and data insights to optimize the connection between producers and consumers. TELUS Digital specializes in digital customer experiences and future- focused digital transformations that deliver value for their global clients. Guided by our enduring 'give where we live' philosophy, TELUS continues to invest in initiatives that support education, health and community well-being. In 2023, we launched the TELUS Student Bursary, which strives to ensure that every young person in Canada who wants a post-secondary education has the opportunity to pursue one. To date, the program has distributed over $6 million in bursaries to 2,000 students and counting. Since 2000, TELUS, our team members and retirees have contributed $1.85 billion in cash, in-kind contributions, time and programs, including 2.5 million days of service - earning TELUS the distinction of the world's most giving company.

For more information, visit telus.com and telusdigital.com or follow @TELUSNews on X.

Investor Relations
Ian McMillan
ir@telus.com

Media Relations
Steve Beisswanger
Steve.Beisswanger@telus.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/telus-announces-partial-redemption-of-2-75-notes-series-cz-due-july-8--2026--302707110.html

SOURCE TELUS Corporation

FAQ

What did TELUS (TU) announce about the Series CZ 2.75% notes on March 9, 2026?

TELUS announced a partial redemption of C$500 million of Series CZ on May 8, 2026. According to the company, the C$500 million is taken from C$800 million outstanding and will be selected on a pro rata basis.

How will TELUS (TU) fund the May 8, 2026 redemption of Series CZ notes?

TELUS will fund the redemption with proceeds from its Fixed-to-Fixed Rate Junior Subordinated Notes offerings completed in December 2025. According to the company, those proceeds will cover the C$500 million partial redemption.

What portion of the Series CZ 2.75% notes remains after the C$500 million redemption for TELUS (TU)?

After redeeming C$500 million, C$300 million of Series CZ will remain outstanding. According to the company, the original outstanding amount was C$800 million before the partial redemption.

When is the redemption date and maturity date for TELUS (TU) Series CZ notes?

The partial redemption is set for May 8, 2026, and the notes mature on July 8, 2026. According to the company, the redemption price will be calculated under the applicable indenture.

Does TELUS' March 9, 2026 notice constitute an offer to buy or sell securities (TU)?

No, the notice is strictly informational and is not an offer to buy or sell securities. According to the company, the release is for information only and does not solicit transactions.