Summary
On April 1, 2019, Nasdaq, Inc. announced the completion of a public offering for €600,000,000 in aggregate principal amount of 1.75% senior notes due 2029. The net proceeds from this offering are earmarked for refinancing existing debt and for general corporate purposes, indicating a strategic move to optimize the company's capital structure and potentially lower borrowing costs. In conjunction with this new issuance, Nasdaq also initiated the redemption of its outstanding $600,000,000 principal amount of 5.55% senior notes due 2020. This redemption, scheduled for May 1, 2019, suggests a proactive management of liabilities, likely driven by favorable interest rate environments or a desire to simplify its debt portfolio. Investors should note the significant debt management activities undertaken by the company.
Key Highlights
- 1Completion of a €600,000,000 public offering of 1.75% senior notes due 2029.
- 2Net proceeds from the new notes will be used for refinancing indebtedness and general corporate purposes.
- 3Nasdaq is redeeming its entire outstanding $600,000,000 of 5.55% senior notes due 2020.
- 4The redemption date for the 5.55% notes is May 1, 2019.
- 5The new senior notes were issued under a registration statement on Form S-3.
- 6The new notes bear an annual interest rate of 1.75% and mature on March 28, 2029.
- 7The redemption of the 5.55% notes will extinguish all outstanding principal of that series.