Telus 2006 Annual Report Download - page 41

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The following table is a summary of billing by Deloitte & Touche, LLP, as external auditors of
TELUS, during the period from January 1, 2005 to December 31, 2005:
Type of work
Deloitte & Touche %
Audit fees $2,237,606 90.7
Audit-related fees $195,584 7.9
Tax fees $33,180 1.4
All other fees -- --
Total $2,466,370 100.0
MATERIAL CONTRACTS
On July 26, 2002, TCI entered into a Purchase and Servicing Agreement, which was amended
September 30, 2002, March 1, 2006, and November 30, 2006, with an arm’s-length
securitization receivables trust which enables TCI to sell an interest in certain of its receivables
up to a maximum of $650 million. This revolving period securitization has an initial term ending
July 18, 2007; the November 30, 2006 amendment resulted in the term being extended to July
18, 2008. TCI is required to maintain at least a BBB (low) credit rating by Dominion Bond
Rating Service (“DBRS”), or the purchaser may require the sale program to be wound down.
The necessary credit rating was exceeded by three levels at A (low) as of February 14, 2007.
The proceeds of securitized receivables were $500 million at December 31, 2006, unchanged
from one year earlier. Section 7.6 - Accounts receivable sale of Management’s discussion and
analysis in TELUS’ 2006 Annual Report – Financial Review and Note 13 to the audited
Consolidated financial statements of TELUS for the year ended December 31, 2006 are hereby
incorporated by reference.
On March 2, 2007, TELUS announced that it had entered into a replacement five year $2 billion
unsecured credit facility (the “2007 Credit Facility”) with a syndicate of 18 financial institutions.
The 2007 Credit Facility replaces TELUS’ $1.6 billion previously existing credit facilities, which
consisted of an $800 million facility, which would have expired in May 2008 and an $800 million
facility, which would have expired in May 2010. The 2007 Credit Facility may be used for
general corporate purposes including the backstop of commercial paper. The material terms of
the 2007 Credit Facility are substantively the same as under TELUS’ previous credit facilities
other than reduced pricing and an extension of the term of May 2012.
TRANSFER AGENTS AND REGISTRARS
The Company’s transfer agent and registrar is Computershare Trust Company of Canada.
Computershare maintains the Company’s registers at 600, 530 - 8th Avenue SW, Calgary,
Alberta T2P 3S8.
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