TELUS Corporation, a Canada-based telecommunication company, offering a range of communications products and services, has reportedly announced the redemption price of its partial 30 percent redemption, on a pro rata basis, on Dec. 31, 2009 of $583.5 million principal amount of its outstanding $1.945 billion 8 percent notes due June 1, 2011.

 

The early redemption notice for these notes was previously announced on Dec. 1. As stated, the redemption price, which is payable on Dec. 31, 2009, is based on the Adjusted United States Treasury Yield plus 30 basis points, as provided in the trust indenture pursuant to which such notes were issued in May 2001. Moreover, the company also clarified that Note holders will also receive accrued interest to the Dec. 31, 2009 redemption date.

 

According to this announcement, the redemption price and amount per $1,000 of principal amount for these notes are $1,097.43, with accrued and unpaid interest of $6.67 contributing to the total redemption amount of $1,104.10.

 

Recently the company had also announced 2010 financial targets that is said to reflect the continued execution of the company’s national growth strategy focused on wireless and data. The company also made minor updates to its annual guidance for 2009.

 

As the national telecommunications company in Canada, and led since 2000 by President and CEO Darren Entwistle, TELUS (News - Alert) has been offering a wide range of communications products and services including data, Internet protocol, voice, entertainment and video.