Published on 3/2/2022 in the Prospect News Investment Grade Daily.
New Issue: Cboe Global sells $300 million 3% 10-year senior notes
Chicago, March 2 – Cboe Global Markets, Inc. sold a $300 million offering of 3% 10-year senior notes (A3/A-) in the Wednesday market, according to an FWP filed with the Securities and Exchange Commission.
The notes priced at 99.546 to yield 3.053%.
The spread came out at 120 basis points over the related benchmark Treasury note.
Any optional redemption by the company prior to Dec. 16, 2031 will include a make-whole premium of Treasuries plus 20 bps. After that date, the issuer may call the notes at par.
BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the joint bookrunning managers.
The proceeds will be used, together with cash on hand and proceeds from additional borrowings, to fund the company’s acquisition of ErisX.
Chicago’s Cboe is an exchange holding company.
| Issuer: | Cboe Global Markets, Inc.
|
| Amount: | $300 million
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| Issue: | Senior notes
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| Maturity: | March 16, 2032
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| Bookrunners: | BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Co-managers: | Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Lloyds Securities Inc., MUFG, RBC Capital Markets, LLC, TD Securities (USA) LLC, Wells Fargo Securities, LLC, Bancroft Capital, LLC and Loop Capital Markets LLC
|
| Trustee: | Computershare Trust Co., NA
|
| Counsel to issuer: | Sidley Austin LLP
|
| Counsel to underwriters: | Shearman & Sterling LLP
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| Coupon: | 3%
|
| Price: | 99.546
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| Yield: | 3.053%
|
| Spread: | Treasuries plus 120 bps
|
| Call features: | Make-whole at Treasuries plus 20 bps until Dec. 16, 2031; thereafter at par
|
| Change of control: | At 101
|
| Trade date: | March 2
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| Settlement date: | March 16
|
| Ratings: | Moody’s: A3
|
| S&P: A-
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| Distribution: | SEC registered
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| Cusip: | 12503MAD0
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