Summary
Intercontinental Exchange, Inc. (ICE) announced on August 17, 2017, the successful completion of a public offering of $1 billion in aggregate principal amount of senior notes. This offering consisted of $500 million of 2.350% Senior Notes due 2022 and $500 million of 3.100% Senior Notes due 2027. The notes are guaranteed by NYSE Holdings LLC, a subsidiary of ICE. The net proceeds from this offering, amounting to approximately $991.6 million after discounts and commissions, are intended for general corporate purposes. Notably, a portion of these proceeds will be used to redeem NYSE's outstanding $850 million of 2.00% senior unsecured fixed rate notes due in October 2017. This strategic move is expected to facilitate the release of NYSE from its guarantee under ICE's existing credit facility.
Key Highlights
- 1Completion of a $1 billion public offering of senior notes ($500M 2022 Notes, $500M 2027 Notes).
- 2Notes carry coupon rates of 2.350% (2022) and 3.100% (2027).
- 3Proceeds are for general corporate purposes, including the redemption of $850 million in NYSE USD Notes.
- 4NYSE Holdings LLC provides an unconditional guarantee for the notes.
- 5Redemption of NYSE USD Notes is expected to release NYSE from its guarantee under ICE's credit facility.
- 6Net proceeds after expenses and discounts were approximately $991.6 million.
- 7The offering utilized ICE's existing automatic shelf registration statement.