TMX Group Limited priced a C$1.1 billion private placement of senior unsecured debentures, split across three series, to accredited investors in Canada.
Series K carries a C$250 million face value at a 3.862% coupon, maturing September 26, 2028. Series L is sized at C$400 million with a 4.571% yield and a September 22, 2033 maturity. The longest-dated offering, Series M, amounts to C$450 million at 4.904%, due September 23, 2036.
National Bank of Canada Capital Markets and TD Securities are leading the syndicate. Members include 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 constitute direct senior unsecured and unsubordinated obligations of TMX Group, ranking equally with all other senior unsecured and unsubordinated indebtedness. An expected credit rating of "AA (Low)" with a Stable Trend was assigned by DBRS Limited.
Net proceeds will be used to repay a portion of outstanding indebtedness and for general corporate purposes. The offering is expected to close on September 22, 2026.
The debentures were offered exclusively to persons in Canadian provinces on a private placement basis, relying on exemptions from prospectus requirements under applicable securities laws. The securities have not been qualified for sale to the public and are not being offered in the United States.
