Summary
Cboe Global Markets, Inc. (CBOE) has filed an 8-K report detailing a material definitive agreement related to a debt issuance. On June 29, 2017, the company successfully completed a public offering of $300 million in aggregate principal amount of 1.950% Senior Notes due 2019. The primary use of the net proceeds from this offering was to repay outstanding amounts under the company's existing term loan facility. This issuance represents a significant financing event for Cboe, allowing them to manage their debt structure by refinancing existing obligations with new, lower-cost debt. Investors should note the specific terms of these senior unsecured notes, including their maturity date, interest rate, and provisions for redemption or repurchase in the event of a change of control. The company also entered into a customary Underwriting Agreement with the representatives of the underwriters.
Key Highlights
- 1Cboe Global Markets, Inc. issued $300 million in 1.950% Senior Notes due 2019.
- 2The net proceeds from the note issuance were used to repay outstanding amounts under the company's term loan facility.
- 3The Senior Notes mature on June 28, 2019.
- 4The notes bear a fixed interest rate of 1.950% per annum, payable semi-annually.
- 5The notes are unsecured and rank equally with other senior unsecured indebtedness.
- 6Cboe has the option to redeem the notes at a premium and may be required to repurchase them upon a Change of Control Triggering Event.
- 7A customary Underwriting Agreement was executed with Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC.