Thomson Reuters prices $1.3B U.S. notes and C$1B Canadian notes

Thomson Reuters (TSX/Nasdaq: TRI) announced the pricing of a U.S. public offering of $1.3 billion in notes and a Canadian private placement of C$1 billion in notes, according to a company press release.

The U.S. offering, issued through TR Finance LLC, a Delaware subsidiary of Thomson Reuters Corporation, consists of $800 million in 5.100% notes due 2028 and $500 million in 5.750% notes due 2033. Both tranches are fully and unconditionally guaranteed by Thomson Reuters Corporation and certain subsidiary guarantors.

The Canadian private placement, issued directly by Thomson Reuters Corporation, comprises C$350 million in 4.130% notes due 2029, C$350 million in 4.480% notes due 2031, and C$300 million in floating rate notes due 2029, bearing interest at daily compounded CORRA plus 0.76% per annum.

Both offerings are expected to close on September 17, 2026. Net proceeds are expected to be approximately $1,294,842,000 and C$997,027,500, respectively. The company stated it plans to use the proceeds for general corporate purposes, including repayment of existing indebtedness under its commercial paper program.

Interest on the fixed-rate notes will be paid semi-annually, while interest on the floating rate notes will be paid quarterly.

The U.S. notes are being offered through a syndicate co-led by RBC Capital Markets, BofA Securities, Barclays, and Mizuho. The Canadian notes are being placed through a syndicate co-led by RBC Capital Markets, BMO Capital Markets, and TD Securities, exclusively to Canadian residents on a private placement basis.

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