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TMX Group Limited (“TMX Group”) today announced that it has successfully completed a private placement offering (the “Offering”) of $1.0 billion aggregate principal amount of senior unsecured debentures (collectively, the “Debentures”) to accredited investors in Canada. TMX Group issued: $400 million aggregate principal amount of 3.253% Series A Senior Unsecured Debentures due October 3, 2018; $250 million aggregate principal amount of 4.461% Series B Senior Unsecured Debentures due October 3, 2023; and $350 million aggregate principal amount of Series C floating rate (3-Month CDOR plus 70 bps) Senior Unsecured Debentures due October 3, 2016. All of the Debentures received a credit rating of A (high) with a Stable trend from DBRS Limited.
The net proceeds from the Offering are being used by TMX Group to repay a significant portion of outstanding indebtedness under its credit agreement. The terms of the credit agreement have also been amended to include, among other things, the release of various guarantees provided by certain of TMX Group’s subsidiaries as well as significantly more favourable pricing terms and less restrictive financial covenants. The amended and restated credit agreement will be available in due course on www.sedar.com and on the TMX Group website at www.tmx.com.
