CME subsidiary renews $7 billion 364-day multi-currency line of credit

By Susanna Moon

Chicago, Nov. 13 – CME Group Inc.’s wholly owned subsidiary Chicago Mercantile Exchange Inc. renewed its $7 billion 364-day multi-currency line of credit on Nov. 6, according to an 8-K filing with the Securities and Exchange Commission.

BofA Merrill Lynch, Bank of China, Chicago Branch, Barclays, BMO Capital Markets Corp., Citigroup Global Markets, Inc. and Bank of Tokyo-Mitsubishi UFJ, Ltd. are the joint lead arrangers and joint bookrunners.

Bank of America, NA is the administrative agent. Deutsche Bank Trust Co. Americas is the collateral agent. Bank of China, Chicago Branch, Barclays Bank plc, BMO Harris Bank NA, Citibank, NA and Bank of Tokyo-Mitsubishi UFJ, Ltd. are the syndication agents. Lloyds Bank plc and Wells Fargo Bank, NA are the documentation agents.

The facility also may be upsized to $10 billion.

The credit facility is for a line of credit for $7 billion to provide temporary liquidity to CME at times when CME is entitled to use the guaranty fund, performance bonds and other collateral of its clearing members to satisfy any outstanding obligations of any defaulting clearing member to CME, the filing said.

The facility is collateralized by clearing firm guaranty fund contributions and performance bond assets held by CME.

The holding company of four futures exchanges is based in Chicago.

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