By Andrea Heisinger
New York, Jan. 12 - Nasdaq OMX Group, Inc. priced an upsized $1 billion of senior notes (Baa3/BBB-) early on Tuesday in two tranches, an informed source said.
The deal went overnight because it is the first bond offering from the company. The size was increased from an original $700 million.
The $400 million of 4% five-year notes priced at 99.49 to yield 4.114% with a spread of Treasuries plus 162.5 basis points.
A $600 million tranche of 5.55% 10-year notes priced at 99.583 to yield 5.605% and has a spread of Treasuries plus 187.5 bps.
Both tranches have a make-whole redemption at Treasuries plus 30 bps.
There was no formal price talk for the deal, the informed source said. He added that the books were about five times oversubscribed.
Bank of America Merrill Lynch, J.P. Morgan Securities and Wells Fargo Securities were bookrunners.
Proceeds are going to repay amounts under a senior secured credit facility and to terminate an associated credit agreement.
The holding company for the Nasdaq Stock Market, Inc. and OMX AB is based in New York City.
| Issuer: | Nasdaq OMX Group, Inc.
|
| Issue: | Senior notes
|
| Amount: | $1 billion, increased from $700 million
|
| Bookrunners: | Bank of America Merrill Lynch, J.P. Morgan Securities, Wells Fargo Securities
|
| Trade date: | Jan. 12
|
| Settlement date: | Jan. 15
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
|
|
| Five-year notes
|
| Amount: | $400 million
|
| Maturity: | Jan. 15, 2015
|
| Coupon: | 4%
|
| Price: | 99.49
|
| Yield: | 4.114%
|
| Spread: | Treasuries plus 162.5 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
|
|
| Ten-year notes
|
| Amount: | $600 million
|
| Maturity: | Jan. 15, 2020
|
| Coupon: | 5.55%
|
| Price: | 99.583
|
| Yield: | 5.605%
|
| Spread: | Treasuries plus 187.5 bps
|
| Call: | Make-whole at Treasuries plus 30 bps
|
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