By Angela McDaniels
Tacoma, Wash., June 22 Nasdaq, Inc. priced $4.25 billion and 750 million of fixed-rate senior notes in a six-part offering, according to a company news release.
The company priced
$500 million of 5.65% notes due 2025;
$1 billion of 5.35% notes due 2028;
$1.25 billion of 5.55% notes due 2034;
$750 million of 5.95% notes due 2053;
$750 million of 6.1% notes due 2063; and
750 million of 4.5% notes due 2032.
The company expects to use the proceeds, together with cash on hand and proceeds of other debt, to fund its acquisition of Adenza Holdings, Inc., to repay some Adenza debt and for general corporate purposes.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the lead bookrunners for the dollar issues. BofA Securities, Inc., Citigroup Global Markets Inc., and Morgan Stanley & Co. LLC are also bookrunners.
Goldman Sachs and J.P. Morgan Securities plc are the lead bookrunners for the euro notes. Merrill Lynch International, Citigroup Global Markets Ltd., Morgan Stanley & Co. International plc, Nordea Bank Abp, and Skandinaviska Enskilda Banken AB (publ) are also bookrunners.
The notes each feature a make-whole call option and then a par call option.
The notes are also callable at par for taxation reasons and putable at 101 if there is a change-of-control triggering event.
There is also a special mandatory redemption at 101 plus interest if Nasdaqs acquisition of Adenza does not occur before the later of five business days after Sept. 10, 2024 and five business days after the extension of the outside date in the Adenza transaction agreement or if the company decides not to pursue the acquisition.
Nasdaq is a New York-based technology company that provides data, analytics, software and services in four segments: market technology, investment intelligence, corporate platforms and market services.
| Issuer: | Nasdaq, Inc.
|
| Amount: | $4.25 billion
|
| Issue: | Senior fixed-rate notes
|
| Bookrunners: | Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC (leads), BofA Securities, Inc., Citigroup Global Markets Inc., and Morgan Stanley & Co. LLC
|
| Call option: | Make-whole call option and then par call option
|
| Put option: | At 101 upon change-of-control triggering event
|
| Pricing date: | June 22
|
| Settlement date: | June 28
|
| Distribution: | SEC registered
|
|
|
| 2025 notes
|
| Amount: | $500 million
|
| Maturity: | 2025
|
| Coupon: | 5.65%
|
|
|
| 2028 notes
|
| Amount: | $1 billion
|
| Maturity: | 2028
|
| Coupon: | 5.35%
|
|
|
| 2034 notes
|
| Amount: | $1.25 billion
|
| Maturity: | 2034
|
| Coupon: | 5.55%
|
|
|
| 2053 notes
|
| Amount: | $750 million
|
| Maturity: | 2053
|
| Coupon: | 5.95%
|
|
|
| 2063 notes
|
| Amount: | $750 million
|
| Maturity: | 2063
|
| Coupon: | 6.1%
|
| Euro notes
|
|
|
| Issuer: | Nasdaq, Inc.
|
| Amount: | 750 million
|
| Issue: | Senior fixed-rate notes
|
| Maturity: | 2032
|
| Coupon: | 4.5%
|
| Bookrunners: | Goldman Sachs & Co. LLC, J.P. Morgan Securities plc (leads), Merrill Lynch International, Citigroup Global Markets Ltd., Morgan Stanley & Co. International plc, Nordea Bank Abp, and Skandinaviska Enskilda Banken AB (publ)
|
| Call option: | Make-whole call option and then par call option
|
| Put option: | At 101 upon change-of-control triggering event
|
| Pricing date: | June 22
|
| Settlement date: | June 28
|
| Distribution: | SEC registered
|
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