Thomson Reuters in $600 million debt refinancing

After the close of markets, the group said it would offer $500 million in new notes that will pay 4.7 per cent and be due in 2019 to help pay for the refinancing. The offering is expected to close on 29 September.

It is redeeming all 6.85 per cent medium-term notes that expire on 1 June 2011, all 4.75 per cent notes maturing on 28 May 2010 and all of its 7.74 per cent notes due on 22 December 2010.

The three issues have C$400 million, US$250 million and US$75 million of principal outstanding, respectively.

The group said it will pay the applicable early repayment premiums as well as accrued and unpaid interest through the redemption dates.

Thomson Reuters shares closed 2.27 per cent higher at $34.30 in New York and 1.58 per cent higher at C$36.72 in Toronto. ■