Thomson Reuters Parts With €500 Million Legacy Debt

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Financial data and news conglomerate Thomson Reuters Corp. (NASDAQ:TRI) (which launched its new data and news system, Eikon, on Tuesday) launched a C$750-million bond offering in Canada on Thursday. The new debt pays 4.35 per cent annually and will mature in 2020.

The offering is being used to refinance €500-million of medium term notes that mature in November. Interestingly, this old debt is the last of Reuters PLC paper that was absorbed when Thomson Corp. and Reuters merged in 2008, according to Moody’s, which assigned the debt a Baa1 rating. After the refinancing, all of the company’s debt will bear the Thomson Reuters name.

RBC Dominion Securities and TD Securities are the offering’s co-leads.

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Streetwise is a daily compendium of news about deals and players in Canada's investment industry. You can find the blog at GlobeandMail.com, the website of Canada's national newspaper The Globe & Mail, or at The Globe's investment website, Globe Investor. Streetwise is primarily written by business and investment columnist Andrew Willis. He joined The Globe in September of 1995. His career has included stints at a number of publications, including The Financial Post, The Financial Times of Canada, Dow Jones/Wall Street Journal, and MacLean's magazine. He also did freelance writing for Investment Executive magazine. He appears on television for BNN TV and CBC Newsworld. Andrew has co-written a book, The Bre-X Fraud, with business journalist Douglas Goold. Read his Streetwise newspaper columns Tuesday through Friday in the pages of The Globe and Mail's Report on Business. Boyd Erman also contributes. He is a long-time business journalist who has worked at Dow Jones, Bloomberg, and the National Post before joining the Globe and Mail, Canada's national newspaper. Over the years, his areas of coverage have included economics, monetary policy, debt markets and corporate finance. In addition, he is a regular commentator and guest host on Business News Network. He covers markets and the brokerage industry for The Globe and Mail's Report on Business. Steve Ladurantaye also contributes. He wrote about technology companies in Ottawa before reporting for the Peterborough Examiner and Kingston Whig-Standard, where he won a National Newspaper Award for explanatory journalism. After joining the Globe and Mail, Canada's national newspaper, in 2007, his work has regularly appeared in Report On Business and Globe Investor Magazine. He is now an investment writer. Tara Perkins has been a business reporter since 2004. She has been writing for the Globe's business section since the spring of 2007, covering the banking sector during the course of the financial crisis. Prior to that, she worked for the Toronto Star. Tara has a Bachelor of Journalism from Ryerson University and a Bachelor of Commerce from the University of Guelph

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