News
Thomson Reuters to raise C$1.2 billion
Thursday 19 June 2008
Thomson Reuters said it has signed a deal to raise C$1.2 billion in two note offerings that will be used to repay part of its debt.
The offerings include C$600 million of 5.25 per cent notes due in 2011 and a further C$600 million of 5.7 per cent notes due in 2015.
The company said it plans to use the money to repay bank debt used by the former Thomson Corp to repay the cash portion of its cash and stock acquisition of Reuters.
Moody's Investors Service assigned a ‘Baa1’ rating to the two notes.
Fitch Ratings assigned an ‘A-’ rating.
Thomson Reuters currently has about US$3.4 billion of borrowings under its bridge credit facility related to the deal.
The financing followed another one announced on Tuesday for US$1.75 billion through an issue of corporate bonds. ■
- SOURCE
- The Canadian Press
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