Chicago Mercantile Exchange renews $7 billion 364-day line of credit

By Susanna Moon

Chicago, Nov. 8 – Chicago Mercantile Exchange Inc. renewed its $7 billion 364-day multicurrency credit facility on Thursday, according to an 8-K filed with the Securities and Exchange Commission.

The joint lead arrangers and joint bookrunners are Bank of America Merrill Lynch; Bank of China, Chicago Branch; BMO Harris Bank NA; MUFG; Barclays Bank plc; Citibank, NA; Commerzbank AG, New York Branch; Lloyds Bank plc; United Overseas Bank Ltd., New York Agency; Wells Fargo Bank, NA; Bank of Nova Scotia; Agricultural Bank of China Ltd., New York Branch; China Construction Bank Corp., London Branch; and Industrial and Commercial Bank of China Ltd., New York Branch.

Bank of America, NA is the administrative agent. Deutsche Bank Trust Co. Americas is the collateral agent. Bank of China, BMO Harris Bank, MUFG, Barclays, Citibank, Commerzbank, Lloyds, United Overseas Bank, Wells Fargo, Bank of Nova Scotia, Agricultural Bank of China, China Construction Bank and Industrial and Commercial Bank of China are the syndication agents.

The $7 billion line of credit will be used to provide temporary liquidity in circumstances in which Chicago Mercantile 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 the company and in circumstances where problems exist with a money transfer system that affect operations.

Chicago Mercantile may increase the line of credit up to $10 billion.

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

Chicago Mercantile Exchange is a publicly traded U.S. financial exchange and a subsidiary of CME Group Inc.

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