"NameNotFoundException: TransactionManager not bound" at DEBUG level when connecting to JBoss

Issue

Our client application is connecting to JBoss is logging the following stacktrace in DEBUG level:

TransactionManagerLocator Unable to lookup: java:/TransactionManager
javax.naming.NameNotFoundException: TransactionManager not bound
    at org.jnp.server.NamingServer.getBinding(NamingServer.java:771)
    at org.jnp.server.NamingServer.getBinding(NamingServer.java:779)
    at org.jnp.server.NamingServer.getObject(NamingServer.java:785)
    at org.jnp.server.NamingServer.lookup(NamingServer.java:443)
    at sun.reflect.GeneratedMethodAccessor652.invoke(Unknown Source)
    at sun.reflect.DelegatingMethodAccessorImpl.invoke(DelegatingMethodAccessorImpl.java:25)
    at java.lang.reflect.Method.invoke(Method.java:597)
    at sun.rmi.server.UnicastServerRef.dispatch(UnicastServerRef.java:305)
    at sun.rmi.transport.Transport$1.run(Transport.java:159)
    at java.security.AccessController.doPrivileged(Native Method)
    at sun.rmi.transport.Transport.serviceCall(Transport.java:155)
    at sun.rmi.transport.tcp.TCPTransport.handleMessages(TCPTransport.java:535)
    at sun.rmi.transport.tcp.TCPTransport$ConnectionHandler.run0(TCPTransport.java:790)
    at sun.rmi.transport.tcp.TCPTransport$ConnectionHandler.run(TCPTransport.java:649)
    at java.util.concurrent.ThreadPoolExecutor$Worker.runTask(ThreadPoolExecutor.java:886)
    at java.util.concurrent.ThreadPoolExecutor$Worker.run(ThreadPoolExecutor.java:908)
    at java.lang.Thread.run(Thread.java:662)
    at sun.rmi.transport.StreamRemoteCall.exceptionReceivedFromServer(StreamRemoteCall.java:273)
    at sun.rmi.transport.StreamRemoteCall.executeCall(StreamRemoteCall.java:251)
    at sun.rmi.server.UnicastRef.invoke(UnicastRef.java:160)
    at org.jnp.server.NamingServer_Stub.lookup(Unknown Source)
    at org.jnp.interfaces.NamingContext.lookup(NamingContext.java:750)
    at org.jnp.interfaces.NamingContext.lookup(NamingContext.java:710)
    at javax.naming.InitialContext.lookup(InitialContext.java:409)
    at org.jboss.tm.TransactionManagerLocator.tryJNDI(TransactionManagerLocator.java:149)
    at org.jboss.tm.TransactionManagerLocator.locate(TransactionManagerLocator.java:130)
    at org.jboss.tm.TransactionManagerLocator.locateTransactionManager(TransactionManagerLocator.java:93)
    at org.jboss.tm.usertx.client.ServerVMClientUserTransaction.<init>(ServerVMClientUserTransaction.java:93)
    at org.jboss.tm.usertx.client.ServerVMClientUserTransaction.<clinit>(ServerVMClientUserTransaction.java:60)
    at org.jboss.tm.usertx.client.ClientUserTransactionObjectFactory.getUserTransaction(ClientUserTransactionObjectFactory.java:54)
    at org.jboss.tm.usertx.client.ClientUserTransactionObjectFactory.getObjectInstance(ClientUserTransactionObjectFactory.java:77)
    at javax.naming.spi.NamingManager.getObjectInstance(NamingManager.java:321)
    at org.jnp.interfaces.NamingContext.getObjectInstance(NamingContext.java:1503)
    at org.jnp.interfaces.NamingContext.getObjectInstanceWrapFailure(NamingContext.java:1520)
    at org.jnp.interfaces.NamingContext.lookup(NamingContext.java:846)
    at org.jnp.interfaces.NamingContext.lookup(NamingContext.java:710)
    at javax.naming.InitialContext.lookup(InitialContext.java:409)
    ...
TransactionManagerLocator Unable to instantiate legacy transaction manager
java.lang.ClassNotFoundException: org.jboss.tm.TxManager
    at java.net.URLClassLoader$1.run(URLClassLoader.java:217)
    at java.security.AccessController.doPrivileged(Native Method)
    at java.net.URLClassLoader.findClass(URLClassLoader.java:205)
    at java.lang.ClassLoader.loadClass(ClassLoader.java:321)
    at sun.misc.Launcher$AppClassLoader.loadClass(Launcher.java:294)
    at java.lang.ClassLoader.loadClass(ClassLoader.java:266)
    at java.lang.Class.forName0(Native Method)
    at java.lang.Class.forName(Class.java:186)
    at org.jboss.tm.TransactionManagerLocator.usePrivateAPI(TransactionManagerLocator.java:171)
    at org.jboss.tm.TransactionManagerLocator.locate(TransactionManagerLocator.java:132)
    at org.jboss.tm.TransactionManagerLocator.locateTransactionManager(TransactionManagerLocator.java:93)
    at org.jboss.tm.usertx.client.ServerVMClientUserTransaction.<init>(ServerVMClientUserTransaction.java:93)
    at org.jboss.tm.usertx.client.ServerVMClientUserTransaction.<clinit>(ServerVMClientUserTransaction.java:60)
    at org.jboss.tm.usertx.client.ClientUserTransactionObjectFactory.getUserTransaction(ClientUserTransactionObjectFactory.java:54)
    at org.jboss.tm.usertx.client.ClientUserTransactionObjectFactory.getObjectInstance(ClientUserTransactionObjectFactory.java:77)
    at javax.naming.spi.NamingManager.getObjectInstance(NamingManager.java:321)
    at org.jnp.interfaces.NamingContext.getObjectInstance(NamingContext.java:1503)
    at org.jnp.interfaces.NamingContext.getObjectInstanceWrapFailure(NamingContext.java:1520)
    at org.jnp.interfaces.NamingContext.lookup(NamingContext.java:846)
    at org.jnp.interfaces.NamingContext.lookup(NamingContext.java:710)
    at javax.naming.InitialContext.lookup(InitialContext.java:409)
    ...

Is this a severe problem which is wrongly logged in DEBUG mode, or is this just for information? Can you please explain the reason for this DEBUG output?