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short-term borrowings | 6 Months Ended
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Jun. 30, 2026
short-term borrowings |
short-term borrowings |
22 | short-term borrowings
On May 22, 2024, we entered into an agreement with an arm’s-length securitization trust associated with a major Schedule I bank allowing us to borrow up to $1.6 billion, secured by certain trade receivables and unbilled customer finance receivables; the term of this revolving-period securitization agreement ends May 22, 2027, and requires minimum cash advances of $920 million. Funding under the agreement may be provided in either Canadian dollars or U.S. dollars. Currency risk associated with funding denominated in U.S. dollars is managed through the use of foreign currency forward contracts. As at June 30, 2026, TELUS Corporation has an unsecured non–revolving $650 million (or US$ equivalent) bank credit facility, maturing June 2027, with a syndicate of financial institutions, which is to be used for general corporate purposes. Currency risk associated with funding denominated in U.S. dollars is managed through the use of foreign currency forward contracts. Short-term borrowings of $1.2 billion (December 31, 2025 – $0.9 billion) are comprised of amounts advanced to us by the arm’s-length securitization trust ($0.9 billion; December 31, 2025 – $0.9 billion) and the non-revolving $650 million bank credit facility ($0.3 billion; December 31, 2025 – $NIL); all amounts advanced were denominated in U.S. dollars. The balance of short-term borrowings (if any) is comprised of amounts drawn on bilateral bank facilities and/or other.

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- Definition The disclosure of borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Note Expiry date 2027-01-01 -Name IAS -Number 1 -IssueDate 2025-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2025-en-b&anchor=para_10_e&doctype=Standard -URIDate 2025-03-27 + Details
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