Published on 3/4/2015 in the Prospect News Investment Grade Daily.
New Issue: CME Group sells $750 million 3% notes due 2025 at 90 bps spread
By Aleesia Forni
Virginia Beach, March 4 – CME Group Inc. priced $750 million of senior notes (Aa3/AA-/) due 2025 on Wednesday at Treasuries plus 90 basis points, according to an informed source and an FWP filing on Wednesday with the Securities and Exchange Commission.
Pricing was at 99.811 to yield 3.022%.
The notes sold at the tight end of guidance set in the Treasuries plus 95 bps area. Initial talk was set in the low-100 bps area over Treasuries.
The bookrunners were Barclays, BofA Merrill Lynch, BMO Capital Markets Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Lloyds Securities, MUFG and Wells Fargo Securities LLC.
Proceeds will be used to redeem, repurchase or otherwise retire all outstanding 2018 notes and for general corporate purposes.
The operator of futures exchanges and clearing houses is based in Chicago.
| Issuer: | CME Group Inc.
|
| Amount: | $750 million
|
| Description: | Senior notes
|
| Maturity: | March 15, 2025
|
| Bookrunners: | Barclays, BofA Merrill Lynch, BMO Capital Markets Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Lloyds Securities, MUFG, Wells Fargo Securities LLC
|
| Co-managers: | U.S. Bancorp Investments Inc., Morgan Stanley & Co. LLC, Blaylock Beal Van LLC, Williams Capital Group, LP
|
| Coupon: | 3%
|
| Price: | 99.811
|
| Yield: | 3.022%
|
| Spread: | 90 bps over Treasuries
|
| Make-whole call: | 15 bps prior to Dec. 15, 2024, then callable at par
|
| Change-of-control put: | 101%
|
| Trade date: | March 4
|
| Settlement date: | March 9
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: AA-
|
| Distribution: | SEC registered
|
| Price talk: | 95 bps area over Treasuries, tightened from low-100 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
