Summary
Nasdaq, Inc. (NDAQ) has filed an 8-K report detailing significant financing activities. On June 20, 2023, the company announced its intention to launch concurrent offerings of senior notes denominated in both U.S. dollars and Euros. The report, filed on June 22, 2023, provides pricing details for these offerings, which are expected to close on June 28, 2023, subject to customary conditions. This strategic move involves issuing a substantial aggregate principal amount across various maturities in USD, with interest rates ranging from 5.650% to 6.100%. Additionally, a Euro-denominated offering of €750,000,000 at a 4.500% interest rate due 2032 has been priced. These offerings are being conducted under Nasdaq's existing registration statement on Form S-3, and the company has entered into underwriting agreements with major financial institutions, including Goldman Sachs and J.P. Morgan, for these transactions.
Key Highlights
- 1Nasdaq priced substantial senior note offerings in both U.S. dollars and Euros.
- 2Total U.S. dollar offerings amount to $5.00 billion across multiple maturity tranches.
- 3Euro offering is priced at €750 million with a 4.500% coupon due 2032.
- 4Interest rates for USD notes range from 5.650% (2025 maturity) to 6.100% (2063 maturity).
- 5The offerings are expected to close on June 28, 2023.
- 6Underwriting agreements were signed with major investment banks like Goldman Sachs and J.P. Morgan.
- 7The debt offerings are being conducted under Nasdaq's existing Form S-3 registration statement.