Summary
On April 28, 2020, Nasdaq, Inc. (NDAQ) announced the completion of a public offering, successfully raising $500,000,000 in aggregate principal amount of 3.250% senior notes due in 2050. This offering was conducted under an existing registration statement, and the net proceeds are earmarked for the repayment of short-term indebtedness. The new senior notes are issued under an indenture with Wells Fargo Bank, N.A., as trustee, with an annual interest rate of 3.250% and a maturity date of April 28, 2050. The issuance of these notes represents a significant long-term debt financing for Nasdaq, reinforcing its capital structure. Investors can view the terms of this debt through the filed Eighth Supplemental Indenture and related underwriting and legal opinions, which provide transparency into the agreement's specifics and the validity of the issued notes.
Key Highlights
- 1Nasdaq, Inc. successfully completed a public offering of $500 million in 3.250% senior notes due April 28, 2050.
- 2The net proceeds from the offering are intended to be used to repay short-term indebtedness.
- 3The notes were issued under Nasdaq's existing registration statement on Form S-3.
- 4The Senior Notes will pay a fixed annual interest rate of 3.250%.
- 5The maturity date for these new senior notes is April 28, 2050, indicating long-term debt financing.
- 6The offering involved a syndicate of underwriters, including BofA Securities, Goldman Sachs, J.P. Morgan, Mizuho Securities, and Morgan Stanley.
- 7Relevant documents, including the Underwriting Agreement and the Eighth Supplemental Indenture, are filed as exhibits to this report.