Summary
This Form 8-K filing by The NASDAQ OMX Group, Inc. (NASDAQ OMX) details the company's successful completion of a $500 million public offering of 4.25% Senior Notes due 2024. The offering closed on May 29, 2014, and was executed under a previously filed registration statement. The company entered into a Second Supplemental Indenture to facilitate the issuance of these new notes. Investors should note that the proceeds from this offering are earmarked for significant financial restructuring. Specifically, NASDAQ OMX plans to use the funds, along with existing cash, to refinance its outstanding 4.00% Senior Notes due 2015 and to repay a portion of its senior credit facility term loan. This strategic move indicates a proactive approach to managing its debt obligations and potentially optimizing its cost of capital.
Key Highlights
- 1NASDAQ OMX successfully closed a $500 million public offering of 4.25% Senior Notes due 2024.
- 2The new notes will bear a fixed interest rate of 4.25% per annum, payable semi-annually.
- 3Proceeds from the offering will be used to refinance 4.00% Senior Notes due 2015.
- 4A portion of the senior credit facility term loan will also be repaid using these funds.
- 5The issuance was made under a Second Supplemental Indenture to an existing Indenture.
- 6A redemption notice for the 4.00% Senior Notes due 2015 was issued on May 19, 2014.
- 7The filing includes the Supplemental Indenture and a press release announcing the offering's closing as exhibits.