DBRS Assigns Senior Unsecured Debt Rating of A (high) to TMX Group Limited

DBRS has today assigned a new Senior Unsecured Debt rating of A (high) with a Stable trend to each of the three debentures issued by private placement today by TMX Group Limited (TMX or the Company). TMX issued (1) $400 million aggregate principal amount of 3.253% Series A Senior Unsecured Debentures due October 3, 2018; (2) $250 million aggregate principal amount of 4.461% Series B Senior Unsecured Debentures due October 3, 2023; and (3) $350 million aggregate principal amount of Series C floating-rate (3-month CDOR plus 70 bps) Senior Unsecured Debentures due October 3, 2016.

The net proceeds from the TMX’s debenture offering are being used to repay a significant portion of outstanding indebtedness under its credit agreement. The A (high) Senior Unsecured Debt rating has been set equal to DBRS’s Issuer Rating for TMX on the basis that that the debentures rank pari passu with the credit agreement indebtedness following the release of guarantees provided under the credit agreement by certain of TMX’s subsidiaries. On September 13, 2013, DBRS issued a report on TMX and a TMX-specific methodology appendix. To obtain a copy of the report or the updated methodology, please click on the links under Related Research at the right of the screen or contact us at info@dbrs.com.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

The applicable methodology is the Base General Methodology for Corporate Companies, including the TMX Group Limited specific section in Appendix 1. Supporting methodologies include Rating Holding Companies and Their Subsidiaries. These can be found on our website under Methodologies.