Toronto and Vancouver advises TELUS Corporation on C$1.5bn equity offering

Our Toronto and Vancouver offices advised TELUS Corporation (“TELUS” or the “Company”) on a bought deal offering (the “offering”) of common shares (the “common shares”) announced on February 19, 2020, including the full exercise of the over-allotment option (the “over-allotment option”). The transaction closed on February 26, 2020. 

The syndicate of underwriters led by RBC Capital Markets and TD Securities Inc., together with CIBC Capital Markets, BMO Capital Markets and Scotiabank as joint bookrunners, fully exercised the over-allotment option to purchase an additional 3,750,000 common shares at the offering price of C$52.00 per common share. Including the exercise of the over-allotment option, the Company sold an aggregate of 28,750,000 common shares for total gross proceeds of C$1.495bn.

The team included Pierre Dagenais, Trevor Zeyl, Jennifer McPherson, Sean Williamson, Victoria Riley, and Monica Wong (corporate and securities), Adrienne Oliver and Riley Burr (tax).