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TMX Group launches US$500 million commercial paper program and enters into new credit facility

Fasken
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Overview

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TMX Group Limited

On May 4, 2016, TMX Group Limited (“TMX Group”) announced that it established a commercial paper program under which it may issue up to $500 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, on May 2, 2016, TMX Group entered into an amended and restated credit agreement, replacing its credit agreement dated May 30, 2014, 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, Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank Financial Inc., RBC Dominion Securities Inc. and Scotia Capital Inc. The net proceeds from the sale of the Notes will be used by TMX Group for general corporate purposes including to repay any existing indebtedness. TMX Group was advised by a team of Fasken Martineau lawyers led by Jon Levin with Alex Nikolic and Noel Chow (corporate/capital markets), John Elias and Aine O’Connor (banking).

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