IntercontinentalExchange amends loan, allowing for new facility, issuance of debt

By Sara Rosenberg

New York, June 19 - IntercontinentalExchange Inc. amended its credit facility, allowing it to enter into a new $150 million 364-day credit facility and to issue up to $400 million in debt, according to an 8-K filed with the Securities and Exchange Commission Thursday.

The new facility, which would be obtained in connection with the establishment of a European-based clearing house, will be available for the issuance of letters of credit.

In addition, the amendment allows the company to get up to $5 million of additional unsecured subsidiary debt and to guaranty a proposed overdraft clearing line of credit relating to ICE Clear Europe of up to $200 million.

Also, the amendment provides that if the company's total leverage ratio on a pro forma basis is less than 1.5 to 1, it will have more flexibility in connection with investments, acquisitions and stock repurchases.

The amendment was completed on June 13.

Wachovia is the administrative agent on the deal.

IntercontinentalExchange is an Atlanta-based owner and operator of an internet-based global electronic marketplace for trading in futures and over-the-counter commodities, and derivative financial products.

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