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TMX Group launches US$400 million commercial paper program and enters into new credit facility

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Overview

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TMX Group Limited

On May 30, 2014, TMX Group Limited (“TMX Group”) announced that it established a commercial paper program under which it may issue up to $400 million in short term promissory notes (“Notes”), which have been rated R-1 (low) with a Stable trend by DBRS Limited. In connection with the commercial paper program, TMX Group has entered into a new credit agreement, replacing its credit agreement dated September 30, 2013, which is available to backstop the commercial paper program and for general corporate purposes. The dealers for the commercial paper program are The Toronto-Dominion Bank, Scotia Capital Inc., National Bank Financial Inc., HSBC Bank of Canada and Desjardins Securities Inc. The net proceeds from the sale of the Notes will be used by TMX Group to refinance a portion of its long term debt and for general corporate purposes. TMX Group was advised by a team of Fasken Martineau lawyers led by Jon Levin with Alex Nikolic and Dylan Chochla (corporate/capital markets), John Elias and Dev Singh (banking).

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