Summary
On December 7, 2020, Nasdaq, Inc. (NDAQ) announced a significant capital raising initiative through the issuance of senior notes. The company is offering a total of $1.9 billion across three tranches: $600 million in 0.445% notes due 2022, $650 million in 1.650% notes due 2031, and $650 million in 2.500% notes due 2040. This offering, made under an existing shelf registration statement, is expected to close on December 21, 2020. Investors should note the specific interest rates and maturity dates associated with each note series, indicating Nasdaq's strategy to secure long-term financing at varying costs. The substantial size of the offering suggests the company is looking to fund strategic initiatives, manage its existing debt, or bolster its liquidity. The involvement of major underwriters like J.P. Morgan, BofA Securities, Goldman Sachs, and Morgan Stanley highlights the significance of this transaction.
Key Highlights
- 1Nasdaq, Inc. is raising $1.9 billion through the issuance of senior notes.
- 2The offering includes three series of notes with different interest rates and maturity dates: 0.445% (2022), 1.650% (2031), and 2.500% (2040).
- 3The offering is expected to close on December 21, 2020.
- 4The notes are being issued under Nasdaq's existing Form S-3 registration statement.
- 5The company entered into an Underwriting Agreement with a syndicate of prominent underwriters, including J.P. Morgan, BofA Securities, Goldman Sachs, and Morgan Stanley.
- 6This filing is primarily an announcement of the senior notes offering and its terms.