Business
Thomson Reuters to Repurchase US$700 Million of Debt Securities
Thomson Reuters to Repurchase US$700 Million of Debt Securities
About this update from Thomson Reuters Corporation
[{"type":"text","content":"\n\n\n\nNEW YORK, Mar. 23, 2010 (Canada NewsWire Group) -- /CNW/ --Holders provided with voluntary tender offer prior to make-wholeredemptionThomson Reuters (TSX / NYSE: TRI), the world's leading source of intelligent information for businesses and professionals, today announced that it will repurchase its US$700 million principal amount of outstanding 6.20% notes due January 5, 2012 (CUSIP No. 884903 AN5).(Logo: http://www.newscom.com/cgi-bin/prnh/20090507/NY12658LOGO)Thomson Reuters is initially providing holders with a voluntary tender offer prior to a make-whole redemption of the notes. Thomson Reuters plans to finance the tender offer and the redemption through the issuance of new debt securities and/or available cash resources.-- Tender offer - The tender offer will expire at 5:00 p.m., New Yorktime, on March 29, 2010, unless extended or earlier terminated byThomson Reuters. Holders who validly tender and do not validlywithdrawtheir notes on or prior to the expiration time will receive US$1,085per US$1,000 principal amount of notes accepted for purchase. Holderswill also receive accrued and unpaid interest up to, but notincluding,the settlement date. The settlement date for the tender offer isexpected to be March 30, 2010.-- Make-whole redemption - Any notes that remain outstanding after thetender offer will be redeemed by Thomson Reuters on April 22, 2010 atthe make-whole redemption price. The make-whole redemption price (atayield of the applicable U.S. treasury rate plus 35 basis points) willbe determined on April 19, 2010 in accordance with the terms of thenotes. On April 19, 2010, Thomson Reuters will post the specific totalredemption price in the \"Investor Relations\" section of its website,www.thomsonreuters.com.The tender offer is subject to the terms and conditions set forth in an Offer to Purchase dated March 23, 2010 and an accompanying Letter of Transmittal. The tender offer is not conditioned upon any minimum amount of notes being tendered but is conditioned upon Thomson Reuters completing an offering of new debt securities on terms reasonably satisfactory to it.Thomson Reuters has retained RBS and UBS Investment Bank as the dealer managers for the tender offer. Thomson Reuters has also retained Global Bondholder Services Corp. as the depositary and information agent. Questions regarding the tender offer and a...