Chicago Mercantile Exchange amends $7 billion 364-day revolver

By Wendy Van Sickle

Columbus, Ohio, April 25 – Chicago Mercantile Exchange Inc., a wholly owned subsidiary of CME Group Inc., entered an amendment on April 24 to its 364-day multicurrency credit facility with Bank of America, NA as administrative agent and Citibank, NA as collateral agent and collateral monitoring agent, according to an 8-K filing with the Securities and Exchange Commission.

The amended credit facility is for a multicurrency revolving secured credit facility of $7 billion, which is eligible to be increased to $10 billion. The revolving credit termination date is April 23, 2025.

Each advance will bear interest at SOFR plus 150 basis points.

The facility is intended to provide temporary liquidity to Chicago Mercantile in the event of a clearing member default, a liquidity constraint or depositary default or in the event of a delay in the payment systems utilized by the company. Clearing firm guaranty fund contributions and performance bond assets deposited by clearing members can be used as collateral under the amended credit facility.

Barclays, BMO Harris Bank NA, MUFG Bank, Ltd., Citibank, NA, Wells Fargo Bank, NA, Bank of China, Chicago Branch, United Overseas Bank Ltd., New York Agency, Bank of Nova Scotia, Santander Bank, NA, U.S. Bank NA, Agricultural Bank of China Ltd., New York Branch, TD Securities (USA) LLC, Industrial and Commercial Bank of China Ltd., New York Branch, Commerzbank AG, New York Branch and JPMorgan Chase Bank, NA were the syndication agents. They were joined by BofA Securities, Inc. and were all joint lead arrangers and joint bookrunners.

The global derivatives marketplace is based in Chicago.

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