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IntercontinentalExchange intends to use $220 million of loan borrowings for acquisition
By Sara Rosenberg
New York, April 30 - IntercontinentalExchange plans to draw $220 million under its existing credit facility to help fund the acquisition of Climate Exchange plc, according to a news release.
The remaining funds for the transaction will come from cash on hand.
Under the terms of the acquisition, Climate Exchange shareholders will receive 7.50 pounds in cash per share, valuing the entire existing issued and to-be-issued share capital of Climate Exchange at about 395 million pounds, or $604 million.
IntercontinentalExchange is an Atlanta-based operator of regulated global futures exchanges, clearing houses and over-the-counter markets. Climate Exchange is a London-based developer of traded emissions markets.
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