Published on 3/1/2022 in the Prospect News Investment Grade Daily.
New Issue: CME Group sells $750 million 2.65% notes due 2032 at 98 bps spread
By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, March 1 – CME Group Inc. priced $750 million of senior notes due 2032 (Aa3/AA-) on Tuesday at Treasuries plus 98 basis points, according to an FWP filing with the Securities and Exchange Commission.
Pricing was at 99.677 to yield 2.687%.
The notes were talked in the 120 bps area over Treasuries, according to a market source.
The bookrunners were Barclays, BofA Securities, Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Lloyds Securities Inc., MUFG, TD Securities (USA) LLC and Wells Fargo Securities LLC.
Proceeds will be used to fund the upcoming maturity of $750 million 3% notes due Sept. 15, 2022 and for general corporate purposes.
The operator of futures exchanges and clearing houses is based in Chicago.
| Issuer: | CME Group Inc.
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| Amount: | $750 million
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| Issue: | Senior notes
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| Maturity: | March 15, 2032
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| Bookrunners: | Barclays, BofA Securities, Inc., BMO Capital Markets Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Lloyds Securities Inc., MUFG, TD Securities (USA) LLC and Wells Fargo Securities LLC
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| Co-managers: | Loop Capital Markets LLC, U.S. Bancorp Investments Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, BNP Paribas Securities Corp., Siebert Williams Shank & Co., LLC and Academy Securities, Inc.
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| Trustee: | U.S. Bank Trust Co., NA
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| Counsel to issuer: | Skadden, Arps, Slate, Meagher & Flom LLP
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| Counsel to underwriters: | Mayer Brown LLP
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| Coupon: | 2.65%
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| Price: | 99.677
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| Yield: | 2.687%
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| Spread: | 98 bps over Treasuries
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| Make-whole call: | 15 bps prior to Dec. 15, 2031, then callable at par
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| Change-of-control put: | 101%
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| Trade date: | March 1
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| Settlement date: | March 8
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| Ratings: | Moody’s: Aa3
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| S&P: AA-
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| Distribution: | SEC registered
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| Price talk: | Treasuries plus 120 bps area
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| Cusip: | 12572QAK1
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