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Cboe Global Markets, Inc. 8-K Report, Corporate Update (Dec 10, 2020)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed December 10, 2020
Period End
December 8, 2020
Security
CBOE
In the record · 2016–202610-K1110-Q328-K123

CBOE filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 123 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Dec ’17Dec ’17
  2. Leadership change8-K · Feb ’20Feb ’20
  3. Leadership change8-K · Nov ’22Nov ’22
  4. Material agreement8-K · Sep ’26Sep ’26

01—Abstract

Summary

Summary of the 8-K filed December 10, 2020. Cited figures are marked; the original filing is the authoritative source.

Cboe Global Markets, Inc. (CBOE) announced on December 10, 2020, that it entered into an underwriting agreement on December 8, 2020, to issue and sell $500 milliona aggregate principal amount of its 1.625% Senior Notes due 2030.

This debt offering, made under a shelf registration statement, aims to raise capital for the company. The terms include customary representations, warranties, closing conditions, and termination provisions, with BofA Securities, Inc., Barclays Capital Inc., and Deutsche Bank Securities Inc. acting as the underwriters. This move by Cboe signifies a strategic financial maneuver to bolster its capital structure and potentially fund future growth initiatives or refinance existing debt.

Investors should note the interest rate of 1.625%b and the maturity date of 2030, which provides a long-term funding source. The filing includes the underwriting agreement as an exhibit, offering transparency into the terms of this significant debt issuance.

02—Key points

Key Highlights

  1. Cboe Global Markets, Inc. is issuing $500 million aggregate principal amount of 1.625% Senior Notes due 2030.
  2. The debt offering is being conducted through an underwriting agreement with BofA Securities, Inc., Barclays Capital Inc., and Deutsche Bank Securities Inc.
  3. The notes are being sold under the company's existing shelf registration statement on Form S-3.
  4. The Underwriting Agreement contains standard terms, conditions, representations, warranties, and closing conditions.
  5. This issuance represents a significant capital raise for Cboe, potentially for strategic investments, operations, or debt refinancing.
  6. The filing explicitly incorporates the Underwriting Agreement as an exhibit for investor review.

03—Questions

Frequently Asked Questions

  1. What is the purpose of this $500 million note issuance?

    The filing does not explicitly state the exact use of proceeds, but debt issuances of this nature are typically used for general corporate purposes, which can include funding strategic initiatives, acquisitions, refinancing existing debt, or supporting ongoing operations and growth.

  2. What are the key terms of the Senior Notes being issued?

    The Senior Notes will have a principal amount of $500 million, an annual interest rate of 1.625%, and will mature in 2030.

  3. Who are the underwriters for this offering?

    The underwriters for this offering are BofA Securities, Inc., Barclays Capital Inc., and Deutsche Bank Securities Inc., acting as representatives for the several underwriters named in the agreement.

  4. Where can I find more detailed information about the underwriting agreement?

    The complete terms and conditions of the Underwriting Agreement are filed as Exhibit 1.1 to this Current Report on Form 8-K and are incorporated herein by reference, providing a detailed view of the contractual obligations and provisions.

04—Continue

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