Thomson Reuters to repurchase $700m of debt securities

Source: Thomson Reuters

Thomson 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).

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 York time, on March 29, 2010, unless extended or earlier terminated by Thomson Reuters. Holders who validly tender and do not validly withdraw their notes on or prior to the expiration time will receive US$1,085 per US$1,000 principal amount of notes accepted for purchase. Holders will also receive accrued and unpaid interest up to, but not including, the settlement date. The settlement date for the tender offer is expected to be March 30, 2010.
* Make-whole redemption - Any notes that remain outstanding after the tender offer will be redeemed by Thomson Reuters on April 22, 2010 at the make-whole redemption price. The make-whole redemption price (at a yield of the applicable U.S. treasury rate plus 35 basis points) will be determined on April 19, 2010 in accordance with the terms of the notes. On April 19, 2010, Thomson Reuters will post the specific total redemption price in the "Investor Relations" section of its website thomsonreuters.com.

 

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