Telus to redeem preferred, preference stock

New York, Feb. 12 - Telus Corp. said it plans to redeem all its outstanding C$69.704 million in nine classes of preferred and preference stock at a total cost of C$72.8 million.

The Vancouver, B.C., telecommunications company said it will use general corporate funds for the redemption.

Telus will redeem securities as follows:

* C$809,000 of C$6.00 cumulative preference shares series A at a 10% premium on July 1;

* C$9.64 million of C$5.75 cumulative redeemable preferred shares series H at a 4% premium on July 1;

* C$4.75 million of C$4.50 cumulative redeemable preferred shares series E at a 4% premium on July 1;

* C$19.21 million of C$5.15 cumulative redeemable preferred shares series K at a 5% premium on July 15;

* C$7.125 million of C$4.75 cumulative redeemable preferred shares series C at a 4% premium on July 15;

* C$ 7.125 million of C$4.75 cumulative redeemable preferred shares series G at a 5% premium on July 15;

* C$4.275 million of C$6.00 cumulative redeemable preferred shares series B at a 5% premium on Aug. 1; and

* C$5.3 million of C$4.375 cumulative redeemable preferred shares series F at a 4% premium on Aug. 1.

Telus will also pay accrued dividends.

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