Thomson Reuters priced US$1,300,000,000 of U.S. notes and C$1,000,000,000 of Canadian notes, with both offerings expected to close on September 17. Net proceeds of approximately US$1,294,842,000 and C$997,027,500 will support general corporate purposes, including Commercial Paper repayment, defining the stated use of the new financing for investors.

Key Highlights

  • The U.S. notes comprise US$800,000,000 of 5.100% notes due 2028 and US$500,000,000 of 5.750% notes due 2033.
  • Canadian notes include C$350,000,000 of 4.130% notes due 2029 and C$350,000,000 of 4.480% notes due 2031.
  • Net proceeds are expected to reach approximately US$1,294,842,000 and C$997,027,500.

Thomson (NASDAQ: TRI) Corporation priced a US$1,300,000,000 public notes offering and a separate C$1,000,000,000 Canadian private placement. The transactions are expected to close on September 17, with proceeds intended for general corporate purposes, including repayment of existing indebtedness under its commercial paper program.

TR Finance LLC, a Delaware subsidiary, is issuing US$800,000,000 of 5.100% notes due 2028 and US$500,000,000 of 5.750% notes due 2033. Thomson Corporation is placing C$350,000,000 of 4.130% notes due 2029, C$350,000,000 of 4.480% notes due 2031 and C$300,000,000 of floating-rate notes due 2029. Interest on the U.S. notes and fixed-rate Canadian notes will be paid semi-annually in arrears, while the floating-rate notes will pay quarterly in arrears.

Proceeds Set for Corporate Purposes

Expected net proceeds total approximately US$1,294,842,000 from the U.S. notes and C$997,027,500 from the Canadian notes. Thomson the money will support general corporate purposes, including repayment of existing commercial paper indebtedness. The Canadian notes are being offered exclusively to Canadian provincial residents and will not be sold to investors outside Canada.