By Andrea Heisinger
New York, Sept. 28 - Thomson Reuters Corp. sold $350 million of 3.95% 10-year notes on Wednesday to yield Treasuries plus 200 basis points, a market source said.
The notes (Baa1/A-/A-) were sold at 99.576 to yield 4.002%.
There is a make-whole call at Treasuries plus 30 bps before June 30, 2021; the notes are callable after that date at par. There is a change-of-control put at 101%.
Bookrunners were Barclays Capital Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and RBS Securities Inc.
Bank of America Merrill Lynch, HSBC Securities (USA) Inc. and UBS Securities LLC were the senior co-managers.
Co-managers were BMO Capital Markets Corp., Citigroup Global Markets Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC, RBC Capital Markets LLC, Standard Chartered Bank and TD Securities USA LLC.
Proceeds will be used to repay borrowings under a commercial paper program used to finance repayment of C$600 million of 5.25% notes at maturity in July.
The media and information company is based in New York City.
| Issuer: | Thomson Reuters Corp.
|
| Issue: | Notes
|
| Amount: | $350 million
|
| Maturity: | 2021
|
| Bookrunners: | Barclays Capital Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, RBS Securities Inc.
|
| Senior co-managers: | Bank of America Merrill Lynch, HSBC Securities (USA) Inc., UBS Securities LLC
|
| Co-managers: | BMO Capital Markets Corp., Citigroup Global Markets Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC, RBC Capital Markets LLC, Standard Chartered Bank, TD Securities USA LLC
|
| Coupon: | 3.95%
|
| Price: | 99.576
|
| Yield: | 4.002%
|
| Spread: | Treasuries plus 200 bps
|
| Call: | Make-whole at Treasuries plus 30 bps until June 30, 2021, after at par
|
| Change-of-control put: | 101%
|
| Trade date: | Sept. 28
|
| Settlement date: | Oct. 5
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| Fitch: A-
|
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