TORONTO, Sept. 5, 2018 /PRNewswire/ -- Thomson
Reuters (TSX / NYSE: TRI) today announced that it has exercised its
right to redeem approximately US$1.7
billion of its outstanding debt securities, conditional upon
the closing of the company's previously announced sale of a 55%
interest in its Financial & Risk business to private equity
funds managed by Blackstone for approximately US$17 billion. An affiliate of Canada Pension
Plan Investment Board and an affiliate of GIC will invest alongside
Blackstone.
The notes to be redeemed are the following:
- C$750,000,000 principal amount of
4.35% notes due September 30, 2020
(CUSIP No. 884903 BJ3);
- C$500,000,000 principal amount of
3.369% notes due May 23, 2019 (CUSIP
No. 884903 BR5); and
- US$500,000,000 principal amount
of 4.70% notes due October 15, 2019
(CUSIP No. 884903 BG9).
On August 28, 2018, Thomson
Reuters announced that it and Blackstone had agreed to close the
Financial & Risk transaction on October
1, 2018, subject to the satisfaction or waiver of customary
closing conditions. Thomson Reuters plans to fund these redemptions
(and the future redemption of other outstanding debt securities)
using approximately US$4 billion of
the proceeds from the transaction.
The redemption prices will include applicable early repayment
premiums, as well as accrued and unpaid interest through the
redemption date, which is currently expected to be October 5, 2018 for each series of notes.
Based on a conditional redemption date of October 5, 2018, the Canadian dollar denominated
notes are expected to be redeemed at the following redemption
prices per C$1,000 principal amount,
which have been determined based on the Canada Yield Price, as
defined in the applicable documentation governing each series of
notes:
Notes
|
C$750,000,000
principal amount of 4.35% notes due September 30, 2020 (CUSIP No.
884903 BJ3)
|
C$500,000,000
principal amount of 3.369% notes due May 23, 2019 (CUSIP No. 884903
BR5)
|
Canada Yield
Price
|
C$1,037.24
|
C$1,007.39
|
Accrued and unpaid
interest
|
C$0.60
|
C$12.46
|
Total redemption
price
|
C$1,037.84
|
C$1,019.85
|
The total redemption price for the U.S. dollar denominated notes
to be redeemed will be determined at a later date, in accordance
with the applicable documentation governing those notes. When
available, Thomson Reuters will provide the total redemption price
for those notes in the "Investors" section of its website,
www.thomsonreuters.com. Thomson Reuters currently anticipates that
this information will be posted on or about October 2, 2018. In addition, if the redemption
date will be after October 5, 2018,
Thomson Reuters plans to post updated redemption price information
on its website for the Canadian dollar denominated notes.
Non-registered holders (banks, brokerage firms or other
financial institutions) of Canadian dollar denominated notes that
maintain their interests through CDS Clearing and Depository
Services Inc. (CDS) should contact their CDS customer service
representative with any questions about the
redemption. Alternatively, beneficial holders with any
questions about the redemptions should contact their respective
brokerage firm or financial institution which holds interests in
the notes on their behalf.
This news release is for informational purposes only and does
not constitute a notice of redemption, nor an offer to tender for,
or purchase, any notes or any other securities of Thomson Reuters.
There can be no assurances that the Financial & Risk
transaction will close or that any redemption will occur.
Thomson Reuters
Thomson Reuters is the world's
leading source of news and information for professional markets.
Our customers rely on us to deliver the intelligence, technology
and expertise they need to find trusted answers. The business has
operated in more than 100 countries for more than 100 years.
Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges (symbol:
TRI). For more information, visit
www.thomsonreuters.com.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking,
including the company's current expectations regarding the timing
for closing of the Financial & Risk transaction (which remains
subject to regulatory approval and customary closing conditions),
the expected use of proceeds of the Financial & Risk
transaction and the timing and total redemption prices for the
planned redemptions. These forward-looking statements are based on
certain assumptions and reflect our company's current expectations.
As a result, forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events
to differ materially from current expectations, including other
factors discussed in materials that Thomson Reuters from time to
time files with, or furnishes to, the Canadian securities
regulatory authorities and the U.S. Securities and Exchange
Commission. There is no assurance that the redemptions or a
transaction involving all or part of the Financial & Risk
business will be completed or that other events described in any
forward-looking statement will materialize. Except as may be
required by applicable law, Thomson Reuters disclaims any
obligation to update or revise any forward-looking
statements.
CONTACTS
|
MEDIA
David Crundwell
Senior Vice President, Corporate Affairs
+1 416 649
9904
david.crundwell@tr.com
|
INVESTORS
Frank J. Golden
Senior Vice President, Investor Relations
+1 646 223 5288
frank.golden@tr.com
|
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SOURCE Thomson Reuters