TMX Group closes C$1.1 billion private placement debenture offering

TMX Group Limited (TSX: X) closed a Canadian private placement offering of C$1.1 billion in senior unsecured debentures sold to accredited investors across Canadian provinces, according to a company statement.

The offering comprised three series of debentures: C$250 million of 3.862% Series K debentures due September 26, 2028; C$400 million of 4.571% Series L debentures due September 22, 2033; and C$450 million of 4.904% Series M debentures due September 23, 2036. The Series K tranche was approximately 4.2 times oversubscribed, Series L approximately 3.5 times oversubscribed, and Series M approximately 4.0 times oversubscribed.

The debentures received a credit rating of "AA (Low)" with a Stable Trend from DBRS Limited. They rank equally with all other senior unsecured and unsubordinated debt obligations of TMX Group.

Net proceeds will be used to repay a portion of outstanding debt and for general corporate purposes.

The offering was led by National Bank of Canada Capital Markets and TD Securities, with a syndicate that included RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets, Scotiabank, Barclays, Canaccord Genuity, Casgrain & Company Limited, Cedar Leaf Capital Inc., and Citigroup Global Markets Canada Inc. The debentures were not registered under U.S. securities laws and were not offered for sale in the United States.

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