By Andrea Heisinger
New York, Feb. 4 - CME Group Inc. priced $750 million of 5.75% five-year notes Wednesday to yield Treasuries plus 387.5 basis points, an informed source said.
This was at the tight end of price talk of 387.5 bps to 400 bps, the source said.
The notes (Aa3/AA) priced at 99.839 to yield 5.787%. They have a make-whole call of Treasuries plus 50 bps.
The notes feature a change-of-control put of 101%.
The issue was originally announced in fixed- and floating-rate tranches, according to a Securities and Exchange Commission filing.
A source close to the deal said the issue was not downsized and "that is what they were capable of, and was not indicative of the issue itself."
Active bookrunners were Banc of America Securities LLC and UBS Investment Bank. Barclays Capital Inc. and Lloyds TSB Corporate Markets were co-managers.
Proceeds will be used to repay outstanding commercial paper borrowings backstopped by a 364-day revolving bridge facility. The company expects to reduce the size of or terminate the bridge facility following this offering.
The holding company of four futures exchanges is based in Chicago.
| Issuer: | CME Group Inc.
|
| Issue: | Notes
|
| Amount: | $750 million
|
| Maturity: | Feb. 15, 2014
|
| Bookrunners: | Banc of America Securities LLC, UBS Investment Bank
|
| Co-managers: | Barclays Capital Inc., Lloyds TSB Corporate Markets
|
| Coupon: | 5.75%
|
| Price: | 99.839
|
| Yield: | 5.787%
|
| Spread: | Treasuries plus 387.5 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Change-of-control put: | 101%
|
| Trade date: | Feb. 4
|
| Settlement date: | Feb. 9
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA
|
| Price talk: | 387.5 bps to 400 bps
|
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