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

By Sarah Lizee

Olympia, Wash., Nov. 7 – Chicago Mercantile Exchange Inc. renewed its 364-day multi-currency credit facility on Nov. 1, according to an 8-K filing with the Securities and Exchange Commission.

The $7 billion line of credit is intended to provide the company with temporary liquidity in the event of a clearing member default, a liquidity constraint or depositary default or in the event of temporary delays in the payment systems used by the company.

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

Obligations under the credit facility will be collateralized by the guaranty fund contributions and performance bond assets deposited by clearing members with Chicago Mercantile.

Bank of America Merrill Lynch, Bank of China, Chicago Branch, BMO Harris Bank NA, MUFG Bank, Ltd., Barclays Bank plc, Citibank, NA, Commerzbank AG New York Branch, United Overseas Bank Ltd., New York Agency, Wells Fargo Bank, NA, Bank of Nova Scotia, Agricultural Bank of China Ltd., New York Branch, TD Securities (USA) LLC, Industrial Commercial Bank of China Ltd., New York Branch, U.S. Bank NA and Santander Bank, NA are joint lead arrangers and joint bookrunners.

Bank of China, BMO Harris, MUFG, Barclays, Citibank, Commerzbank, United Overseas Bank, Wells Fargo, Scotiabank, Agricultural Bank of China, TD Securities, Industrial and Commercial Bank of China, U.S. Bank and Santander are syndication agents.

Bank of America, NA is the administrative agent, and Citibank is the collateral agent and collateral monitoring agent.

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

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