Telus (TU) said Friday it completed the full redemption of its 3.75% series CV notes due March 10, totaling 600 million Canadian dollars ($431.8 million).

The company said it used proceeds from a CA$2.9 billion offering of junior subordinated notes in December to fund the repayment.

The transaction was part of a deleveraging strategy that included the early redemption of seven note series for CA$1 billion, Telus said.

The company said it expects its net debt to adjusted EBITDA ratio to reach roughly 3.4 times for 2025, about 3.3 times or lower by the end of 2026, and around 3 times by the end of 2027.

Shares of the company were up almost 2% in recent Friday premarket activity.